Gavan Technologies Raises $8 million to Bring Plant Protein-Based Fat Solution to Europe

Gavan Technologies, Ltd. announces it has raised $8 million in A-round funds, allowing the company to break into the European food market with its plant protein-based fat solution, Fatrix.

The funding round was led by MoreVC, an Israeli venture capital firm, with participation from Lever VC, a global leader in food and agri-tech investment; EIT Food, a European Union-supported platform for sustainable food innovations; and DarkBoot Group, a private equity firm involved in Gavan's incubation.

The proceeds will establish a new pilot production facility in Europe and expand Gavan's commercial presence there, with focus on the bakery and dairy sectors. The site, planned to commence operations in April 2025, will feature a production line for Gavan's alternative fat solution.

Fatrix is designed to help food manufacturers reach a superior nutriscore for their product by reducing total fat and especially saturated fat content. Using Fatrix as a fat source reduces dependency on animal fats and cleans the label from undesired emulsifiers.

Fatrix is a multifunctional plant-based fat and can act as a one-to-one replacement for butter in a range of bakery products and dairy alternatives. Its all-natural fat formula is composed of three ingredients: protein isolate, vegetable oil and water, formulated into a high-performance gel.

Gavan's patented technology enables the protein to perform as a binder for the water and oil. This results in a smooth, stable and flavorless emulsion. It also has low content of saturated fats and zero trans fats as it is not hydrogenated. Fatrix is already approved for market, and does not require novel foods regulatory approval.

"This funding round opens the door for Gavan to enter the European food market, where we can quickly make a positive impact,” says Itai Cohen, Gavan’s co-founder and CEO. “Our new, fully EU-certified facility is planned to go commercial as early as April next year.”

Fatrix is a scalable and cost-efficient fat solution that is suitable for multiple bakery products such as brioche and croissants. It adds functional value to dairy analogs such as whipping creams, cooking creams, cream cheeses and puddings without the need for added thickeners or stabilizers. It also allows for cleaner, more consumer-friendly labels.

Gavan's zero-waste platform is compatible with a range of plant-based oils and legumes, allowing it to provide tailored solutions to meet specific customer preferences or application requirements.

"Fat plays an essential role in the creation of almost all foods,” says Rony Patishi-Chillim, venture partner of MoreVC. “It gives depth to flavors, elevates textures, and enhances the dining experience in general. The food industry is in need of a plant-based fat that can provide the same indulgent flavor and mouthfeel as butter, while supporting sustainability and personal well-being. Gavan's unique fat creation platform is market-ready and has the potential to make a truly meaningful contribution to the $253 billion fats and oils market."