In order to advance its technology towards commercialization, Phytolon, a developer of fermentation-based natural food colors, announced today that it has secured USD 14.5 million in funding, led by DSM Venturing, with participation from Cibus Fund, Ginkgo Bioworks (in-kind investment in the form of Foundry services), and The Trendlines Agrifood Fund on 7th July 2022.
The Trendlines Group, the largest shareholder in Phytolon, Arkin Holdings, Millennium Foodtech, Agriline (managed by Consensus Business Group), Stern Tech, and OpenValley/Yossi Ackerman, are also participants in this Series A.
What Phytolon has to say:
Halim Jubran, co-founder and CEO of Phytolon:
“The investments made by DSM Venturing, Cibus Fund, and Ginkgo Bioworks have allowed our products to be widely adopted by the world’s food sector. We are thrilled to have additional investors who share our vision for using biotechnology to develop wholesome, effective, and sustainable food systems.”
Steve Dubin serves as the board of directors chairman for Phytolon. As CEO of Martek Biosciences (bought by DSM in 2011), Chairman of Enzymotec, and Senior Advisor to DSM, he has worked with several biotechnology and nutrition companies (until 2012).
Steve Dublin stated:
“I think this funding round and DSM’s involvement with Phytolon will speed the commercialization of Phytolon’s exclusive palette of sustainable food colors. These benefits will be significant for both food producers and consumers.”
More about the company:
An Israeli biotechnology startup, Phytolon, uses a cutting-edge technique to ferment yeast precisely to create natural colors.
The corporate venture division of Royal DSM, a multinational, purpose-driven organization in health, nutrition, and bioscience, is known as DSM Venturing.
The technique employed by Phytolon is based on intellectual property licensed from the Weizmann Institute of Science in Israel. It addresses the demand for natural food coloring alternatives to the azo/synthetic dyes currently used in food and beverages.
Most of the natural food colors today come from fruits and vegetables and agriculture. Phytolon uses a cutting-edge method to ferment baker’s yeast to create betalain colors.
Phytolon provides a variety of natural colors from yellow to purple for alternative meat, dairy, frozen foods, baked goods, confectionary, and snacks. These colors have competitive coloring performance and cost-in-use.
The technology of Phytolon has already scaled up to semi-industrial production levels, and the business has set the stage for regulatory approvals in the U.S. and Europe.
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