Gavan Raises $8M to Introduce Clean Label “One-to-One” Butter Alternative in Europe
Israel’s Gavan, a food tech company focused on replacing animal fat with sustainable alternatives, announces it has raised $8 million in a Series A funding round. The funds will be used to establish a new European pilot production facility for its flagship ingredient, Fatrix, a plant protein-based fat that replaces butter “one-to-one” in bakery and dairy alternatives. The site is scheduled to commence operations in April 2025, aiming to debut its “cutting-edge” fat solution in the European food market. The round was led by MoreVC, with participation from Lever VC, EIT Food, and DarkBoot Group, a private equity firm involved in Gavan’s incubation. Co-founder and CEO Itai Cohen, shares, “This funding round opens the door for Gavan to enter the European food market, where we …