Enzymotec Ltd., (the “Company”) announced today that it has successfully completed a Series B1 investment round, raising $11 million. The round was led by the Company’s existing shareholders (Galam Ltd, Ofer Hi-Tech Investments Ltd. and Millennium II Materials Technology Fund L.P.) and by a new investor – Arancia International Inc.
In addition, the Company is finalizing a new $7 million line of credit (of which $3m were already received) from a leading Israeli bank.
“The successful completion of the financial round validates the strength and potential of Enzymotec, particularly given current economic conditions" said Dr. Ariel Katz, President and CEO of Enzymotec. "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 upcoming years“.
Enzymotec’s revenue growth from fiscal year 2003 to 2007 amounted to 2,134% and resulted in a #12 ranking in the Deloitte’s 2008 Israeli Fast 50 Program ceremony held on November 2, 2008.
About Arancia International Inc.
Arancia International Inc. is part of Arancia Industrial SA de CV, a private Mexican company founded in 1925, has vast experience in food ingredients manufacturing and international joint ventures. Arancia operates in biotechnology in the industrial enzymes markets, in services for the health sector, and foodservice logistics.
Enzymotec is an Israeli biotech company that develops and produces innovative, lipid-based biofunctional solutions for orthomolecular medicine, dietary supplements and advanced infant nutrition. The company acts in three main categories: cognitive improvement, cardiovascular disease prevention and balanced nutrition for babies and children.