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Israel-Based Brevel Lands $18.5M To Develop Microalgae-Based Alternative Proteins

Jul 25, 2023•almost 2 years ago

Amount Raised

$18.5 Million

Kiryat GatFood ProcessingFood And BeverageBiotechnology

Investors

European Union’s Eic FundNeva Team Partners

Description

Brevel, an Israeli startup developing microalgae into an alternative protein, has netted $18.5 million in seed funding. The round includes $8.4 million converted from grants and convertible loans into shares. The round was led by NevaTeam Partners and supported by the European Union’s EIC Fund (that recently backed Woodio), as well as other leading food and climate funds and strategic partners from within the food industry.

Company Information

Company

Brevel

Location

Kiryat Gat, South District, Israel

About

Brevel is a climate food-tech company, developing a solution that addresses the expanding demand for nutritious, eco-friendly, and alternatives to animal protein. Its patented technology combines an advanced fermentation process using light to cultivate microalgae, which then is converted to a concentrated, highly nutritious whole-protein powder.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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