Millennium Food-Tech raises another NIS 52m

• Published date: 13 December 2020
• Date: 13 December 2020
• Author: Shani Ashkenazi
• Publication title: Globes (Rishon LeZion, Israel)

Millennium Food-Tech focuses on companies operating in the personalized nutrition sector, protein substitutes, reducing garbage and food leftovers, smart packaging, artificial intelligence and new food ingredients. In the past few years, there has been major growth in the food-tech sector due to growing demand for sustainable solutions in these areas. In 2013, $2.2 billion was invested in this field while last year this amount had risen to $19.8 billion.

Millennium Food-Tech's first portfolio company SavorEat is developing a unique technology for producing meat alternatives. The company's market cap is NIS 350 million of which Millennium has a 14.3% (fully diluted) stake, worth NIS 50 million, six times the amount that the partnership invested in the company (NIS 8 million). The Partnership has so far also invested in Phytolon, which develops technology for manufacturing...