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Israeli start-up Phytolon secures $14.5m in Series A funding round
Lauren Ford

Lauren Ford

8 July 2022

Israeli start-up Phytolon secures $14.5m in Series A funding round

Israeli food tech start-up Phytolon has secured $14.5 million in a Series A funding round, led by DSM Ventures. Other investors included Cibus Fund, Ginkgo Bioworks (in-kind investment in the form of Foundry services) and The Trendlines Agrifood Fund, among current shareholders such as The Trendlines Group, Arkin Holdings and Millennium Foodtech. Phytolon uses its proprietary technology to produce betalain pigments by fermentation of baker's yeast, manufacturing healthy and sustainable natural colouring alternatives to azo/synthetic dyes used in food and beverage applications. The start-up offers a wide range of natural colours (from yellow to purple) for multiple food categories such as alternative meat, dairy, frozen products, baked goods, confectionery and snacks. 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." The funding will be used to accelerate the commercialisation of Phytolon's proprietary colours in food and beverage applications for producers and consumers.

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