Plytolon, the Yokneam, Illit, Israel-based biotech/food technology startup enterprise engaged in producing natural food colors using precision fermentation, has secured investment from Rich Products Ventures (RPV), the corporate venture capital fund of Rich Products Corporation, to help drive commercialization of its sustainable and clean-label product range. The Buffalo, New York-headquartered backer produces and exports a wide range of frozen, refrigerated shelf stable foods including cakes, icings, specialty toppings, pizza, appetizers and value-added seafood products.
Rich Products will explore Phytolon’s proprietary color offerings in several of its products, in a mutually non-exclusive manner. RPV’s strategic investment has been paired with additional support from existing Phytolon shareholders, including EIT-Food, Arkin Holdings and Yossi Ackerman. The funds will be used to further commercialize and scale Phytolon’s natural, precision fermented food colorants, which are expected to pass key regulatory approvals soon.
“We are excited to be empowered by Rich Products Ventures as partners in promoting our innovative products in the food industry. This 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,” said Tal Zeltzer, Phytolon’s co-founder and chief technology officer.
Produced utilizing the fermentation of proprietary yeast strains, Phytolon’s natural colors are positioned as offering a cost-efficient and sustainable substitution to synthetic food dyes without compromising performance. Beginning with two base colors, the portfolio provides a full range of color shades, including purple, pink, red, orange and yellow, offering both a reliable and steady supply chain (compared to agriculture-based colors), as well as a simplified process to help food brands achieve vibrant, precise product colors.
As part of this strategic investment, Rich Products will explore Phytolon’s clean-label and eco-friendly solutions in several of its products to understand how the natural colors can potentially be applied to Rich’s portfolio of icings, toppings, baked goods and more.
“Innovation is at the core of both Rich’s and RPV,” said Dinsh Guzdar, managing director of Rich Products Ventures. “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 that presents us to create greater value for our customers.”