Phytolon, a Yokne’am Illit, Israel-based biotech and food tech startup that produces natural food colors using precision fermentation, received an investment from Rich Products Ventures.
Rich Products Ventures is the the corporate venture capital fund of global, family-owned food company Rich Products. RPV’s strategic investment has been paired with additional support from existing Phytolon shareholders, including EIT-Food, Arkin Holdings and Yossi Ackerman.
The amount of the deal was not disclosed.
The company intends to use the funds to further commercialize and scale its natural, precision fermented food colorants, which are expected to pass key regulatory approvals soon.
Phytolon is focused on offering natural food colors that comply with the consumers demand for clean label, healthy, and sustainable food systems. Its portfolio currently includes multiple shades, covering the purple, pink, red, orange, and yellow spectrum, targeting multiple food categories in the food and beverage market.
FinSMEs
11/11/2024