Lypid, creator of vegan fats reported to taste and behave like animal fats, announced it has raised a $4 million seed round led by Green Generation Fund with additional support from Big Idea Ventures, Foodland Ventures, SOSV's IndieBio, and others. Lypid's founders, Jen-Yu Huang and Michelle Lee, Taiwanese Ph.D.'s who met at Cornell University, indicate the funds will be used to bring their product to market in 2022, after which they plan to expand further in the U.S., Europe, and Asia.
Processed using the company's novel formulation and the microencapsulation method, Lypid's product, PhytoFat™, maintains its animal fat-like qualities when cooked above 329 degrees Fahrenheit (165 Celsius). The company says its formulation and technique produce vegan fats with juicy animal-like textures and melting behaviors, extended flavor delivery, and a better nutritional profile than other plant-based fats. With no artificial additives, no hydrogenation, and containing zero trans fats, Lypid looks to offer PhytoFat™ as a healthier alternative to the current plant-based protein market, which relies heavily on palm oil and coconut oil for ingredients.