NEW TECH FOODS

Colorcon Ventures, the corporate venture fund of Colorcon, has invested in Israeli start-up Phytolon, which develops natural food colourings using precision fermentation of modified baker’s yeast.

The funding forms part of Phytolon’s bridge round, joined by existing investors including NextGen Nutrition, Arkin Capital, Trendlines, EIT Food, Yossi Ackerman, Steve Dubin, Rich’s and Ginkgo Bioworks, as well as another strategic investor that will be announced at a later stage.

Phytolon is moving towards commercialisation, with plans to expand its natural colouring technology beyond the food sector into nutraceutical and pharmaceutical applications. Colorcon said its formulation and regulatory expertise would support this transition.

Kelly Boyer, VP of film coatings and strategic business development for Colorcon, said: “Colorcon is proud to make an investment in Phytolon, as they are well aligned with our focus on continued innovation and emerging technology".

"Since our founding, Colorcon has become a true leader in color science and colour matching for film coatings in both pharmaceutical and nutraceutical applications. We applaud Phytolon for their innovative work, which has the potential to deliver high-performing, sustainable natural colours at scale, which would be a win for the industry.”

Halim Jubran, Phytolon’s co-founder and CEO, said, “We are excited to have Colorcon Ventures join our existing strategic partners, including Rich's, Ginkgo Bioworks and others, as we move to the commercialisation stage. Colorcon’s strong formulation and regulatory expertise will be crucial as we validate expansion beyond the food sector into addressable markets, such as nutraceuticals and pharmaceuticals.”

Top image: © Phytolon