Phytolon, an Israeli maker of fermentation-based technology for the production of plant-based food colors, secured $4.1m in funding.
Backers were Millennium Food-Tech, EIT Food, Consensus Business Group, The Trendlines Group (SGX: 42T) (OTCQX: TRNLY), Yossi Ackerman and the Israel Innovation Authority.
Co-founded by Dr. Halim Jubran, CEO, and Dr. Tal Zeltzer, CTO, Phytolon utilizes current scientific advancements to bring biotechnology-based, natural, high-quality food colors to the market for the benefit of human health and environmental sustainability.
The company, founded in 2018 based on licensed technology through the Weizmann Institute of Science, leverages a proprietary, fermentation-based technology to produce plant-based food colors. Phytolon is recently conducting proof of concept experiments of their product’s performance at production lines of leading players at the food industry.
It is a portfolio company of Misgav, Israel-based The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY).
FinSMEs
22/09/2020