Dynamics Group AG
/ Key word(s): Financing
Media Release
Zurich, 13 September 2024 Fabas, the Zurich based start-up has reached a significant milestone by successfully closing its seed financing round, raising over CHF 1.3 million in additional funding. Fabas was founded in 2021 with the mission to promote pulses (beans and peas) as the most valuable plant-based protein sources. With this funding round, the female-led start-up aims to become a leading B2B supplier of pulse-based protein ingredients for plant-based food alternatives. The funding secured in this round amounts to over CHF 1.3 million, bringing Fabas' funding to over 3.2 MCHF with previous internal investments and non-dilutive grants from renowned innovation and sustainability initiatives like the KlimUp program of the City of Zurich, Innosuisse, Klimastiftung Schweiz, Swiss Re Foundation and the European Institute of Innovation & Technology (EIT Food). The financing round, led by a Swiss family office with participation from industrial and private investors and several business angels, supports Fabas' strategic shift to become a leading supplier of pulse-based protein ingredients. In response to market demand for clean-label ingredients for plant-based products lines, Fabas has developed an extraction technology that produces minimally processed protein extracts from peas and fava beans. These extracts can be used by food producers to improve the nutritional value, taste and sensory perception of plant-based foods, while enhancing the sustainability of the final product. Fabas' initial applications are targeting the dairy industry. Fabas is on track to bring its first product, a plant-based yogurt pre-mix, to market by the end of 2024. This pre-mix is a liquid ingredient which can be used like cow milk in yogurt making. Fabas is currently testing its products with major dairy companies in Switzerland. Anik Thaler, CEO of Fabas, emphasizes: "Advancing plant-based nutrition is key to a sustainable and climate-friendly future. At Fabas, we are committed to developing ingredients that enable the production of healthy and delicious pulse-based foods." Alain Raymond, Fabas board member, adds:, "The extracting technology enhances our ability to offer high-quality protein ingredients to the food industry, a critical component in building sustainable value chains." Investors: Media:
About Fabas Fabas, a start-up based in Zurich and founded in 2021, is dedicated to advancing plant-based nutrition by bringing beans and peas to the forefront of our diets and agriculture. Originally known for its consumer products like Swiss hummus and falafel, Fabas shifted its focus to the B2B sector to bring even more beans to our plates: with its innovative extraction technology, Fabas develops high-quality, gently processed protein extracts from peas and fava beans. The protein extracts are integral to the creation of pre-mixes that not only improve the nutritional profile, but also enhance the taste and sustainability of plant-based alternatives. With strong backing from prominent industry partners and sustainability initiatives, Fabas is well-positioned to drive the rise of beans as a central ingredient in creating healthier and more sustainable food options across Europe. Further information about Fabas can be accessed here www.fabassolutions.ch Link to Media Gallery Additional features: File: Fabas Secures Seed Financing Round End of Media Release |
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