KIRYAT GAT, ISRAEL — Brevel, an alternative protein startup founded in 2017 by brothers Yonatan, Ido and Matan Golan, has secured $5 million in a seed extension round to boost its go-to-market strategy and develop microalgae proteins for food and beverage companies. The company said the investment brings its total investment in the round to $25 million.

Initial and recurring investors included NevaTeam Partners, Siddhi Capital, European Union’s EIC Fund, Good Protein Fund, The Food Tech Lab and PVS.

“Our investors chose to reinvest, based on Brevel’s impressive progress following the last round,” said Yonatan Golan, co-founder and chief executive officer of Brevel. “We are dedicated to delivering nutritious protein that can replace animal protein in formulations. Our vision as a climate food tech startup is to reduce the carbon footprint to minimum by developing affordable, flavor-neutral flavored and functional microalgae protein at global scales for consumers. It ticks all the boxes: it’s good for the people, good for our customers, and good for the planet.”

Brevel also is accelerating its commercial activities and is working on future product lines with manufacturing JV partners.

In addition, the company is signing additional “offtake agreements” with customers to prepare for large scale production.

Brevel said its proprietary technology combines sugar-based fermentation of microalgae with a high concentration of light at industrial scales to produce protein that is affordable, neutral in color and flavor, functional, sustainable and scalable.

With its technology, Brevel is able to produce a neutral-flavored, microalgae protein isolate powder.

Other nutrients the company is working on include protein, lipids, fibers and bioactive antioxidants that are derived from photosynthesis.

“While the fermentation process reduces costs, the light in our proprietary technology enables us to increase bottom-line results since we produce, in addition to the protein, functional oil with potent emulsifying properties, antioxidants as valuable food supplements, and nutritional fibers for food applications,” Golan said. “Through this wide portfolio we can achieve overall price parity for our superior protein as well as for each co-product. We plan to roll-out the next products in line this summer.”

In 2022, the startup raised $8.4 million in seed funding to build its commercial pilot facility, which opened in 2024.

Brevel also raised $18.5 million in seed financing in 2023.

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