Phytolon Secures $4.1 Million in Funding for Natural Food Color Tech
Summary
MISGAV, Israel, Sept. 16, 2020 /PRNewswire/ -- Phytolon, a portfolio company of The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY) announced that it secured $4.1 million in funding for its fermentation-based technology for the production of plant-based food colors. Since its establishment, the company has been awarded many accolades: a finalist at MassChallenge Israel 2020, AgriVest 2019, Slingshot 2019 and a runner-up in the Calcalist-Tnuva Foodtech 2019 competition. Phytolon brings a patented solution, perfect for the food color sector, and has garnered a lot of interest in its technology and products. "British businessman Vincent Tchenguiz noted, "We are delighted with the success of Phytolon, CBG has supported and accompanied the company for a long time and is following their impressive progress. Phytolons product is a step forward towards reducing the segment of synthetic chemistry and increasing sustainability of natural resources for the food industry."