Funding round completed
Enzymotec, an Israeli biotech company specialised in the development of lipid-based biofunctional ingredients, has raised €8.5 million in a series B financing round led by Arancia International and returning backers Galam, Ofer Hi-Tech Investments and Millennium II Materials Technology Fund. The company is also finalising a €5.4M million line of credit from undisclosed Israeli bank.
The lipid-based biofunctional ingredients developed by Enzymotec are used in orthomolecular medicine, dietary supplements and advanced infant nutrition, targeting cognitive improvement, cardiovascular disease prevention and balanced nutrition for babies and children.
Ariel Katz, of Enzymotec, said: “The successful completion of the financial round validates the strength and potential of Enzymotec, particularly given current economic conditions. This additional funding will enable us to complete the construction of our new plant in Migdal HaEmek, Israel, with increased capacity and will enable us to enhance our research and development activities in the next years.”
Luis Aranguren, of Arancia Industrial, said: “We are excited to join Enzymotec and be a part of the development and production of lipid-based innovative health solutions.”