Israeli FoodTech start-up Gavan Technologies has secured US$8M to set up a new European facility for commercial production of its plant-based fat.
The funding would help Gavan to break into the European food market with its plant protein-based fat solution, Fatrix, the company said on 10 December.
Gavan’s range of protein-based fat substitutes were suitable for use in a variety of food categories including bakery, ice cream, meat and chocolate.
Comprising protein isolate, vegetable oil and water, the gel-like products had a low saturated fat content as well as zero trans fats.
As part of the company’s expansion plans, Gavan said it would be setting up a new pilot production facility in Europe, scheduled to become operational in April 2025, with a focus on the bakery and dairy sectors.
“This funding round opens the door for Gavan to enter the European food market,” Gavan’s co-founder and CEO Itai Cohen said.
Fatrix maintained stability and water- and fat-holding capacity during high heat and physical pressure processing conditions, Cohen added.
The product has been used in bakery products, including brioche and croissants, and could be added to whipping creams, cooking creams, cream cheeses and puddings without needing thickeners or stabilisers,
