Lever VC

Lever VC Fund II is excited to announce its third investment in Israeli start-up Gavan, a company we’ve known and followed for over two years. Gavan has just raised US$8 million to commercialize its clean-label plant-based fat substitute—a tunable solution that can replace butter and milk fat across bakery and dairy applications. Leveraging a unique technology platform, Gavan delivers capital-efficient scaling, competitive unit economics, and a true game-changer for clean-label foods. We’re proud to support Gavan's mission to provide sustainable, natural ingredients with improved taste, texture, and performance. Read more about Gavan here: https://lnkd.in/gXwmYTiz Itai Cohen #plantbased #startup #foodtech #cleanlabel

The plant-based sector continues to see positive growth. In Europe, consolidated 2023 data from six key markets shows plant-based food sales rose 5.5% to €5.4 billion, with Germany leading the charge and cream emerging as the fastest-growing category, up 118% in sales volume from 2021 to 2023. Meanwhile, Food Frontier’s State of the Industry 2023 report identifies food service as a major opportunity, though challenges like the absence of plant-based primal cuts and limited culinary education remain. Read more about these developments here: https://lnkd.in/g3H26j_N and https://lnkd.in/eePgdngM

Lever VC portfolio company The Better Meat Co. has been granted its fifth patent by the US Patent and Trade Office for its proprietary process used to produce Rhiza mycoprotein. This patent extends protection to include the company’s method for drying mycelium into a powder, enabling broader applications. Read more about the patent here: https://lnkd.in/eqVWZEja

LeverVC ’s Fund I portfolio companies in the packaged food sector continued to demonstrate impressive growth in the past year, with four companies' year-over-year growth approaching or exceeding 100%. In a market where packaged plant-based food sales rose by only 4%, Lever VC’s companies in the category posted a collective 30% sales growth, adding $42 million in total sales run rate. Among Lever VC's packaged foods investments, over half have averaged a 65% compound annual growth rate or higher since Lever VC's initial investment. Even in challenging market conditions for VC as a whole, there is significant opportunity in the Food and Ag categories and Lever is pleased to continue delivering value in the category for its LPs. #plantbasedsales #CPGbrands #investments Birdman THIS™ Heura Foods GROUNDED®Tiba Tempeh | B-Corp™ Nude. A Dozen Cousins Blackbird Foods No Cow GOOD PLANeT Foods

A new report from the Plant Based Foods Institute, Kroger, and data insights firm 84.51˚.51° reveals a sustained shift in U.S. consumer spending from animal-based to plant-based foods, marking the fourth consecutive year of growth. The “Plant-Based Migration Analysis,” covering data from seven million households, shows a rising preference for plant-based options across key food categories, underscoring important trends for retailers. The report also found that health is the main driver for consumers switching to plant-based foods. Read the report here: https://lnkd.in/dqZeN9T2 #plantbasedsales #pbfi #healthyfoods #datainsights

Lever VC portfolio company GROUNDED® has launched its ‘pure’ protein m*lkshakes in Whole Foods Market, marking a major U.S. expansion. Originally planned for a limited rollout, the product quickly gained attention, leading Whole Foods to expand its availability to over 150 stores across the West and East Coasts. This strong support reflects Whole Foods’ confidence in GROUNDED’s clean-label, plant-based protein shakes for health-conscious consumers. Check out more about the company here: https://lnkd.in/eZB9SHpJ

Lever VC portfolio company, The Better Meat Co., has received regulatory approval from the Singapore Food Authority to sell its mycelium-based Rhiza mycoprotein for plant-based and meat-enhancing applications. This approval follows a ‘no questions’ letter from the US FDA three months ago, affirming Rhiza's status as Generally Recognized as Safe (GRAS). These milestones mark significant progress in expanding Rhiza’s global presence. Read more about it here: https://lnkd.in/eENisKS2

We are excited to share that our portfolio company, Blackbird Foods, just launched its plant-based wings in Wegmans and GIANT stores. https://lnkd.in/eizQK66z

Lever VC portfolio companies are continuing to expand their reach in the plant-based market. Tiba Tempeh | B-Corp™ has launched its Original Tempeh Block and Plant-Based Mince in 327 Morrisons stores across the UK. In the US, Blackbird Foods has rolled out its seitan-based plant-based wings in over 100 Wegmans stores nationwide. Read more about these product launches here: https://lnkd.in/eiHZW4_v https://lnkd.in/eaqtC58t

In a major win for the plant-based sector, the European Court of Justice (ECJ) has ruled against France's attempt to ban terms like "veggie burger" and "plant-based sausage" on food labels. The ECJ ruling affirms that no member state can prohibit the use of these terms. Read more about the ruling here: https://lnkd.in/eUW4dSJe