Phytolon secures funding for natural food colour technology

Israel based company Phytolon has raised $4.1m in a funding round for its fermentation-based technology to manufacture plant-based food colours.

Investors that were part of the financing round include Millennium Food-Tech, EIT Food, Consensus Business Group (CBG), The Trendlines Group, Yossi Ackerman former President and CEO of Elbit Systems and the Israel Innovation Authority.

Phytolon CEO Dr Halim Jubran said: “This round will enable us to reach the market with our healthy and sustainable food colours that offer a high-quality and cost-efficient solution to the food industry.

“The new round will also promote our collaborations with our potential clients, with whom we have been in communications during the past year and a half.”

Established in 2018, Phytolon is a portfolio company of The Trendlines Group engaged in the production of plant-based food colours using a fermentation-based technology.

By leveraging scientific advancements, the Israeli-based firm aims to bring biotechnology-based, natural, high-quality food colours to the market for improved human health and environmental sustainability.

The company estimates that the new natural food colours are required to meet the growing consumer awareness and demands for healthier food colours and replace the synthetics.

Millennium Food-Tech CEO Chanan Schneider said: “For us, technologies that make food more natural and healthier are innovations that change the world of food and beverages.

“It is clear to us that consumers are looking for products with more natural and healthier ingredients and are even willing to pay a premium for them.

“Phytolon brings a patented solution, perfect for the food colour sector, and has garnered a lot of interest in its technology and products.”