Phytolon, an Israel based startup leveraging a proprietary, fermentation-based technology for the production of plant-based food colours completed a $4.1 million funding round led by Millenium Food-Tech, EIT Food, Consensus Business Group, The Trendlines Group, Israel Innovation Authority and Yossi Ackerman.
Founded in 2018, Phytolon utilises current scientific advancements to bring biotechnology-based, natural, high-quality food-colorants to the market in a cost-effective manner for the benefit of better human health and environmental sustainability.
“This round will enable us to reach he market with our healthy and sustainable food colors 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.”Dr. Halim Jubran, CEO, Phytolon
Phytolon’s technology exploits the quality and benefits of betalains, a class of pigments found in plants, combined with the development of a novel technology for the reliable and cost-effective production of a wide range of betalain-based colors. This technology is based on many years of leading research and groundbreaking inventions in the fields of plant metabolomics, genetics, and biochemistry, conducted and achieved by a research group from Israel’s Weizmann Institute of Science.
Consumers are demanding natural substitutions to replace harmful artificial food colours currently used, and the industry is seeking new solutions that comply with consumer needs, and also meet the industry’s stringent requirements. As per estimates, more than half of the current $2.8 b food colorant market is made up of natural options.
Phytolon is uniquely positioned to meet the current challenges by producing natural, healthy and cost-effective food colorants, leveraging proprietary production technology licensed from the Israel’s Weizmann Institute of Science. Phytolon’s products are well suited for various food applications in terms of both cost and stability.
Read more at Phytolon