Plant-based meat substitute producer, SavorEat, has announced that it is opening up a subsidiary to tackle another protein in the plant-based battle for our meals. EGG’N’UP will have a crack at developing food products based on natural egg substitutes, designed to replace eggs without impeding on their original taste or nutritional values. The venture is backed by Millennium Food-Tech, who originally funded SavorEat in its seed round and will now be a key investor offering an additional $2.5 million to build the subsidiary.
"I am delighted at the successful collaboration with Millennium Food-Tech,” said Racheli Vizman, SavorEat co-founder and CEO. “Our joint objective is to provide quality, healthy and tasty plant-based products to our consumers. We have discovered a great deal of potential in the company's unique cellulose fibers, which we are translating into the development of additional products that will provide us with broader exposure to a greater variety of audiences, including vegetarians, vegans, and flexitarians… We believe that leaving a footprint in an additional sector, apart from meat alternatives, will open up new business opportunities and enable us to continue doing what we have strongly believed in from the outset."