Yokneam Illit, Israel—Food-tech company NextFerm Technologies Ltd. announced the completion of its initial public offering (IPO) on the Tel Aviv Stock Exchange, raising NIS 30 million at a company valuation of NIS 115 million.
Founded by two former senior executives of Enzymotec, Boaz Noy (CEO) and Dr. Tzafra Cohen (Sr. VP of R&D), the startup develops, produces, and sells nutritional ingredients based on non-GMO yeast fermentation, including Protevin (a non-GMO Vegan protein) and Astaferrm (a yeast-based astaxanthin for human nutrition). The science and technology of fermentation offer benefits in terms of sustainability, according to the company, as the use of closed vessels confined in a relatively small space utilizes minimal resources of land, water, and electricity, and also minimizes batch-to-batch or seasonal inconsistencies as well as the impact of environmental pollutants.
“While this whole segment of food tech is gaining momentum in Israel, we’re pleased to see how market has responded to our unique offering so far,” said Boaz Noy, NextFerm CEO and Co-founder, in a press release. “I believe that what sets us apart is not just the technologies we have developed, but our track record and the determination to bring ideas into real products that can make a difference.”
Related: The Natural View: The Benefits of Astaxanthin and Vitamin C
Astaferm Gummies: Astaxanthin and Vitamin C for antioxidant protection
Finding Value and Trust in Branded Ingredients