Key Takeaways:
- Phytolon, an Israeli biotech startup, has secured funding from Rich Products Ventures (RPV), the corporate venture capital fund of Rich Products.
- Rich Products will explore the use of Phytolon’s natural colors across various food products, under a mutually non-exclusive agreement.
- Additional funding support has been provided by Phytolon shareholders, including EIT-Food, Arkin Holdings, and Yossi Ackerman.
- The funds will be allocated to further commercialize and scale Phytolon’s precision-fermented colorants, which are awaiting regulatory approvals.
- Phytolon’s colors cover a range of shades and are designed to provide a consistent, stable supply chain solution.
Partnership Overview
Phytolon, an Israeli biotech startup specializing in natural food colorants, recently announced an investment from Rich Products Ventures (RPV), the venture capital arm of Rich Products. The funding aims to support the commercialization of Phytolon’s precision-fermented colorants, which are produced using a proprietary fermentation process involving specific yeast strains.
Rich Products will explore integrating the company’s natural colors across several of its products, including baked goods, icings, and toppings. The collaboration is non-exclusive, allowing Phytolon to maintain partnerships with other companies in the food sector.
Tal Zeltzer, Phytolon’s co-founder and CTO, commented on the funding: “We are excited to be empowered by Rich Products Ventures as partners in promoting our innovative products in the food industry. Rich’s investment and commercial partnership are key to establishing a strong footprint in bakery, desserts, and related segments, where solutions for natural colors are in high demand.”
Phytolon’s Technology and Commercial Focus
Phytolon’s natural colors are developed through a precision fermentation process designed to produce consistent, sustainable alternatives to synthetic dyes. Starting with two base colors, the company’s portfolio spans a range of shades, including purple, pink, red, orange, and yellow. The production process is intended to offer a stable and steady supply of colorants, potentially providing manufacturers with an alternative to agriculture-based pigments.
In addition to Rich Products Ventures, Phytolon has received further support from shareholders including EIT-Food, Arkin Holdings, and Yossi Ackerman. The new funds will be directed toward scaling production and advancing regulatory approvals, which are expected to facilitate broader commercial use of Phytolon’s colorants across the food industry.
Statements from Rich Products Ventures
RPV managing director Dinsh Guzdar stated: “Innovation is at the core of both Rich’s and RPV. At RPV, we’re investing in venture and growth stage companies that are shaping the future of food through technology and innovation. Sustainable food production is a key area of focus for us, so we’re excited about the work Phytolon is leading and the opportunity that presents Rich’s to create greater value for our customers.”
