Rich Products Ventures Invests in Israeli Food Colorants Biotech Startup

The corporate venture capital arm of Rich Products — Rich Products Ventures (RPV) — has made an investment in Israeli biotech and food tech startup Phytolon, which produces natural food colors using precision fermentation, according to a release.

The investment includes an agreement that Rich’s will explore the company’s proprietary color offerings in several of its products in a mutually non-exclusive manner, the release noted. It is expected that this deal — along with support from existing shareholders in Phytolon — will help drive commercialization and scale-up of Phytolon’s natural, precision-fermented food colorants.

The release noted that the food colorants are expected to pass key regulatory approvals “soon,” though it didn’t mention which regulations and nations. The portfolio uses proprietary yeast strains to create the natural colorants, which can provide a wide range of shades, including purple, pink, red, orange and yellow. Rich’s will utilize and study the colorants to determine how they might be used in its portfolio of icings, toppings, baked goods and more.