YOKNE’AM ILLIT, ISRAEL — Rich Products Ventures (RPV), the venture capital arm of Rich Products, recently invested in Phytolon, a biotech and food tech startup that uses precision fermentation to create natural food colors. The amount of the investment was not available.
Phytolon’s natural colors are produced through the fermentation of proprietary yeast strains and can serve as alternatives to synthetic food dyes.
“Innovation is at the core of both Rich’s and RPV,” said Dinsh Guzdar, managing director of RPV. “We’re investing in venture and growth stage companies that are shaping the future of food through technology and innovation. Sustainable food production is a key area of focus for us, so we’re excited about the cutting-edge work Phytolon is leading and the opportunity it presents to create greater value for our customers.”
The funds from RPV, paired with capital from Phytolon’s shareholders, will be used to commercialize and scale the food tech company’s food colorants, which are set to pass key regulatory approvals soon.
Rich’s will also explore Phytolon’s clean label and eco-friendly solutions to better understand how natural products can be applied to its portfolio, which includes icings, toppings and baked goods.
“We are excited to be empowered by Rich Products Ventures as partners in promoting our innovative products in the food industry,” said Tal Zeltzer, co-founder and CTO of Phytolon. “Rich’s investment and commercial partnership are key to establishing a strong footprint in bakery, desserts and related segments, where solutions for natural colors are in high demand.”
