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Israeli-founded food-tech startup Gavan Technologies has secured $8 million in funding to build a new European facility for the commercial production of plant-based fats.
The funding will help Gavan enter the European food market with its plant protein-based solution, known as "Vatrix", the company said on 10 December.
Gavan's range of protein-based fat alternatives is suitable for use across a variety of food categories, including baked goods, ice cream, meat products and chocolate.
The gel-like products are made from protein isolate, vegetable oils and water, and are notable for their low saturated fat content and complete absence of trans fats.
As part of its expansion plans, Gavan announced its intention to build a new pilot production facility in Europe, due to begin operations in April 2025, with a focus on the bakery and dairy product sectors.
Itai Cohen, co-founder and chief executive of the company, said: "This funding round opens the door for Gavan to enter the European food market."
Cohen added that Vatrix maintains stability and water- and fat-retention capacity under processing conditions involving high heat and physical pressure.
The product has already been used in baked goods, including brioche and croissants, and can also be added to whipped cream, cooking cream, cream cheese and desserts without the need for thickeners or stabilisers.
Source: Al Mal Forum