Ingredient supplier NextFerm (Israel), which focuses on producing nutritional and functional ingredients using non-GMO single-cell fermentation, announced it has received additional support from Lallemand Health Solutions (Montreal), a supplier of yeast, bacteria, and specialty ingredients. Together, the companies are collaborating on the commercialization of yeast strains for industries such as baking and biofuel.
Lallemand is one of the entities working with NextFerm, which says it has now raised more than $12 million in total funding in advance of its $10 million Series B equity financing round.
NextFerm has already licensed its NextFreeze baker’s yeast strain to Lallemand. “We are very excited [by] the continuous support and confidence Lallemand [is] showing in our company and technology,” said NextFerm’s CEO, Boaz Noy, in a press release.
These developments mark the latest activities for NextFerm, which also sells an exclusive, fermentation-derived astaxanthin ingredient called AstaFerm. Noy told Nutritional Outlook the company is also working on developing a “unique alternative protein that will better address muscle performance and weight management,” called Protevin, and a “novel astaxanthin application for aquaculture,” called NextAsta.