Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Phytolon, an Israel-based food colouring producer spun out of Weizmann Institute of Science, has raised $4.1m in a round featuring government agency Israel Innovation Authority. Research and development-focused investment firm Millennium Food-Tech also participated, as did EIT Food, Consensus Business Group, Trendlines Group and private investor Yossi Ackerman. Founded in 2018, Phytolon makes food colourings using fermented plant-based materials. The technology emerged from research into secondary plant compounds conducted by Weizmann faculty including Asaph Aharoni. Phytolon will leverage the funding for product development as it looks to finalise its proof-of-concept. Details of its earlier funding could not be confirmed, although both Trendlines and Millenium Food-Tech were described as existing investors.