Biotech food colorant startup Phytolon closes $14.5 million Series A
Biotech food colorant startup Phytolon closes $14.5 million Series A
The Israeli startup has developed fermentation-based food-coloring alternatives that are healthier and sustainable
Phytolon, a developer of fermentation-based natural food colors, has secured $14.5 million in funding, led by DSM Venturing. The Series A included participation from Cibus Fund, Ginkgo Bioworks (in-kind investment in the form of Foundry services) and The Trendlines Agrifood Fund. Participation in this round also includes some of Phytolon’s current shareholders: The Trendlines Group (the largest shareholder in the company), Arkin Holdings, Millennium Foodtech, Agriline (administered by Consensus Business Group), Stern Tech, and OpenValley/Yossi Ackerman.
Phytolon is an Israel-based biotech startup that is leveraging its technology to produce natural pigments via precision fermentation of yeast. Phytolon’s proprietary technology is based on licensed technology from the Weizmann Institute of Science and addresses the need for healthy, efficient, and sustainable natural food-coloring alternatives to azo/synthetic dyes used in food and beverages.
Phytolon’s technology has already reached a semi-industrial production scale and the company has prepared the ground for regulatory clearances in the U.S. and Europe.
Dr. Halim Jubran, Co-founder and CEO of Phytolon, said: “The investments of DSM Venturing, Cibus Fund, and Ginkgo Bioworks open the door for broad penetration of our products in the global food industry. We are excited to have new investors who share our vision to create healthy, efficient, and sustainable food systems via biotechnology.”
DSM Venturing is the corporate venture arm of Royal DSM – a global, purpose-led company in Health, Nutrition and Bioscience.
