Food-tech startup Revyve is going all in on its egg-replacement product after a majorly successful funding round.
The Dutch food company raised the equivalent of $27 million to fund its operations, according to a press release.
Revyve makes functional yeast proteins that mimic the texture and performance of eggs and can replace them in food products.
With this financing, the team plans to accelerate its commercial rollout and branch out to more food categories. It is already supplying customers in Europe, the U.K., the U.S.A., Canada, Mexico, and Australia.
"Revyve's ingredients are natural, more sustainable, and price competitive, helping manufacturers respond to three pressing industry challenges," Revyve said, naming sustainability, rising egg costs, and scrutiny of ultra-processed foods.
According to a company fact sheet, Revyve's yeast protein products require 80% less land use than egg-white powder and release 95% less carbon dioxide.
Retailers and manufacturers have been looking for ways to reduce their carbon footprint along the supply chain.
"Food manufacturers are cutting back on eggs to offset increasing prices and reach sustainability targets, but replicating their unique functionality is crucial to maintaining the texture and mouthfeel consumers are used to," said Cedric Verstraeten, CEO of Revyve, per the press release.
"This is exactly where our Yeast Proteins come in, providing an affordable and clean label solution for egg replacement or egg reduction."
Eggs have faced volatile pricing in the last few years amid damaging waves of bird flu, exacerbated by the effects of human-caused global heating. Bird flu can spread faster when abnormal warm weather affects bird migration patterns.
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What type of eggs do you typically buy? Click your choice to see results and speak your mind. |
Cage-free 🥚 Egg alternatives, like Revyve's yeast proteins, are not subject to the same price fluctuations, offering customers a consistent and stable option.
The egg alternative also fits into several trending categories that are desirable to consumers, such as protein-forward, plant-based, clean-label, and sustainable.
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