#Israel #natural colors #Phytolon #Beetroot Red #Yokne'am

Phytolon Raises $23.6 Million in Series B Funding

Phytolon, an Israeli biotechnology pioneer specializing in fermentation-based natural colors, has recently completed a funding round of $23.6 million in Series B financing. This substantial funding will be pivotal in commercializing their innovative natural food colors within the U.S. market. As global demand for high-quality natural color alternatives continues to surge, Phytolon is well-positioned to meet this need.

The funding round was particularly noteworthy as it was spearheaded by a strategic investor, whose identity remains undisclosed, and distributed across three stages. The final stage in April saw significant contributions from existing investors such as Millennium Foodtech, NextGen Nutrition Investment Partners (NGN), Colorcon Ventures, and Yossi Ackerman.

Earlier this year, Phytolon celebrated the FDA approval of its flagship product, Beetroot Red, marking a significant milestone for the company. This approval signifies Phytolon’s commitment to delivering natural colorants that not only meet consumer demand but adhere to the stringent performance and clean-label standards sought after in today's food marketplace. Created through an innovative fermentation process using baker’s yeast, Beetroot Red offers a sustainable option for food producers while ensuring cost efficiency and a reliable supply chain.

As stated by Halim Jubran, Co-Founder and CEO of Phytolon: "This new funding will be allocated to support our sales strategy and enhance our supply capabilities to consumer packaged goods (CPGs) and distribution partners not just in the U.S, but globally." Moreover, the addition of strategic investors enhances Phytolon's capability to expand its marketplace presence effectively.

Industry experts, including James Cali, General Partner at NGN, have also praised Phytolon’s strategic position: "Phytolon stands at the intersection of two critical trends: the increasing regulatory and consumer shift away from artificial dyes and the advancements in fermentation technology to provide natural ingredients that outperform existing options in terms of functionality, cost, and sustainability."

Phytolon’s mission revolves around reshaping the production of natural colors, leveraging its proprietary precision fermentation technology. The company's innovative methodology is designed to provide high-quality, sustainable, and economically viable solutions catered to the global food and beverage sector.

The portfolio currently includes two primary pigments, enabling an expansive range of vibrant colors such as yellow, orange, red, pink, and purple. As global awareness around food ingredients increases, coupled with a demand for more natural alternatives, Phytolon’s advancements in the food coloring industry are appropriately timed and poised for growth.

The successful closure of this funding round not only bolsters Phytolon’s operational capabilities but also symbolizes a significant step toward a future where synthetic colorants may become a thing of the past in favor of cleaner, more sustainable options. As the company continues its mission to serve the evolving needs of consumers and industry professionals alike, it remains focused on setting new standards in the food coloring market.

For more information on Phytolon and its products, visit Phytolon’s official website.