$4m seed funding was secured by Lypid, a San Francisco, CA-based maker of vegan fats.
The round was led by Green Generation Fund with additional support from Big Idea Ventures, Foodland Ventures, SOSV’s IndieBio, and others.
The company indicate the use the funds to bring their product to market in 2022, after which they plan to expand further in the U.S., Europe, and Asia.
Co-founded by Jen-Yu Huang and Michelle Lee, Lypid uses its proprietary formula and processing method to develop PhytoFat™, vegan fats that accurately mimic the texture, mouthfeel, transfer of flavor, and cooking behavior of animal fats.
With no artificial additives, no hydrogenation, and containing zero trans fats, Lypid looks to offer PhytoFat™ as an alternative to the current plant-based protein market, which relies heavily on palm oil and coconut oil for ingredients.