Revyve nets €24M in funding to expand egg-replacing yeast proteins

Revyve has raised almost €24 million (US$28.3 million) in Series B financing, adding to its total capital, which now stands at more than €40 million (US$47.2 million), to accelerate the company’s commercial rollout of functional yeast proteins designed to replace eggs and additives in mainstream food categories. The solutions offer an alternative to traditional egg ingredients and come during a time of unstable egg prices.

Revyve’s strategy is to reshape and transform the alternative protein space with next-generation clean label solutions. 

The Dutch food-tech scale-up produces highly functional yeast proteins that mimic the performance of eggs in food categories, including bakery, sauces, alternative meat, and plant-based dairy. 

The company notes that Revyve’s ingredients are natural, more sustainable, and price-competitive, helping manufacturers respond to pressing industry challenges. 

Firstly, they address the recent difficulties with rising egg costs, which have hit the industry hard in recent years. Volatile pricing is driving demand for affordable and price-stable alternatives.

Earlier this year, US government data showed that the average price for a dozen eggs in the US increased by more than 60% in the last year, mainly due to the avian flu outbreaks, which have impacted the chicken population and reduced supplies.

Focus on functionality 

The solution also addresses the scrutiny of ultra-processed foods, specifically how brands are under pressure to eliminate additives while keeping functionality.

Lastly, they tap into sustainability as retailers and food manufacturers are demanding cuts to CO₂ footprints across 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,” says Cedric Verstraeten, CEO of Revyve. 

“This is exactly where our Yeast Proteins come in, providing an affordable and clean label solution for egg replacement or egg reduction. This funding round marks a tipping point for us: allowing us to modularly scale production and branch out to more food categories and serve our sustainable solutions to larger customers worldwide.” 

Market potential

The latest investment will help Revyve expand output at its production facility in Dinteloord, the Netherlands. The company expects to produce over 1,600 metric tons annually, ensuring a reliable supply.

“Strong regional support from both the Wageningen and Brabant ecosystems has enabled us to scale to industrial levels in record time. With a stellar team and strong investor backing, we have an incredibly solid foundation for global expansion,” adds Verstraeten.

The Series B round was co-led by ABN AMRO Sustainable Impact Fund and Invest-NL with regional support from Brabantse Ontwikkelings Maatschappij (BOM) and strategic investments by Lallemand Bio-Ingredients’ Swiss affiliate Danstar Ferment, and Grey Silo Ventures (CVC of Cereal Docks Group). 

Lisette Kersting-van der Boog, senior investment manager of Invest-NL, adds: “With their functional egg-replacement ingredients, Revyve can play a major role in accelerating the global protein transition and fostering circular solutions that reduce pressure on land, water, and animals.”