NextFerm Technologies is an Israeli food tech company developing fermentation-based alternative proteins for supplements, food, and animal feeds. The company further engages in strain improvement as well as downstream and purification. Its flagship protein product ProteVin is a yeast-based non-GMO alternative protein produced using proprietary technology.
The company supplies ProteVin to food and supplement manufacturers, most of which are in the plant-based sector. According to NextFerm, ProteVin has a neutral taste, contains a rich amino acid profile comparable to its animal counterparts, and has a high digestibility factor (PDCAST=1). Further, it can be used in a variety of alternative protein applications including plant-based meats and dairy as well as sports and nutrition products. As of June 2022, the company was in discussions with global food and dietary supplement producers for the integration of ProteVin into their alternative product lines.
Key customers and partnerships
The company has inked several commercial manufacturing agreements with subcontractors for the production of ProteVin including Kothari Fermentation and Biochem in India and GFR Ingredients in Canada. In 2022, NextFerm entered into a supply agreement with Spacemilk, an American vegan health and sports nutrition brand, to supply USD 3 million worth of ProteVin over four-and-a-half years.
Funding and financials
The company was listed on the Tel Aviv Stock Exchange following its IPO in January 2020, where it raised USD 9.2 million at a valuation of USD 35.2 million.
No investor data is available
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