NextFerm Technologies Overview
NextFerm technologies is focusing on the development, manufacturing and marketing of novel active ingredients that are based on non-GM yeast fermentation and extraction processes. Its leading product is Protevin that has neutral taste and nutritional profile. Protevin is produced sustainably and cost-effectively via a natural, non GMO yeast fermentation process while using only water as a solvent. It is showing optimal physical properties for a variety of uses, primarily for dairy and powder pre-mixes. Additionally, Protevin does not have regulatory constraint anywhere, it is available in N. and S. America and the EU while there is an ongoing territorial expansion elsewhere.
Cumulative Funding Raised Over Time ($)
$10.0MMar 2019
$10.0MMay 2014
Latest News
growth-negative
The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.
NextFerm Technologies Ltd., an Israeli food-tech company, is facing financial difficulties and is seeking a buyer. The company, which produces food ingredients in yeast without genetic engineering, has suspended most operations except for a joint venture in India. Its share price has plummeted, and it has laid off most of its employees to cut costs. Despite having developed a vegan protein product and other yeast-based products, the company has struggled to achieve profitability and expand production due to insufficient investment. NextFerms CEO expressed belief in the technology but acknowledged the need for more investment and time in the food-tech sector.
LayoffsAcquired-byPartners
growth-positive
חברת הפודטק הישראלית בעסקת ענק: שיתוף הפעולה הבינלאומי נחשף
NextFerm Technologies, a company that develops vegan protein substitutes based on yeast, has announced its first commercial order in Europe. The order is for the companys ProteVin™ product, which will be used in a sports nutrition formula in Spain. The company believes that the product will be a commercial success worldwide, leading to additional orders from new global customers. The launch is planned for the first half of 2024. In addition to the planned launch in Spain, the company has already launched ProteVin™ in the USA, Colombia, and Belgium.
CustomersExpand
growth-positive
נקסטפרם השלימה את השלב הראשון של מערך הייצור המסחרי בהודו
NextFerm Technologies, a food-tech company developing a vegan protein substitute based on non-genetically engineered yeast, has completed the first phase of its commercial production array in India for ProteVin. The company will now begin the process of running the production array for regulatory approval and product quality. NextFerm is also expanding its production array, which is expected to enable the company to achieve an annual sales volume of about $4 million by May 2024. The company notes that the array will allow the renewal of ProteVin supplies to existing customers and supplies to new customers.
ExpandCustomers
growth-negative
נקסטפרם מגייסת 54 מיליון שקל בהנפקה; המניה צוללת ב-64%
NextFerm, a company developing a vegan protein substitute, plans to raise tens of millions of shekels through a stock offering. The companys stock price has dropped by about 64% with a large trading volume of 1.3 million shekels. NextFerm will issue 180 million shares at a price of 30 agorot per share. The company currently has a cash balance of approximately $12 million and is traded at a valuation of only 4 million shekels.
Investment
growth-positive
Israel's NextFerm to open factory in N. Macedonia - report
NextFerm, an Israel-based food tech company, is set to open a factory for the production of fermented vegan protein in North Macedonia. The new plant, located in the southwestern part of the country, is expected to have an annual production capacity of ProteVin worth up to $10 million. NextFerm, known for producing vegan, non-GMO proteins used in food and dietary supplements, will replace its pilot production facility with this micro-factory.
Expand
| Sector | Agriculture & Food Technologies |
Funding
| Total funding | $19.18M |
| Last funding | $9.18M |
| Stage | Public |
| Rounds | 3 |
| Investors | 2 |
Team Members
11
Employees: 11-50
Web & Social Links
| Website | nextferm.com |
Locations
Yokne'am Illit, Israel
830 Morris Tpke, Short Hills, NJ 07078, USA
Photos & Videos
5 item(s)
NextFerm Technologies Business
Business models
B2B
Product stage
Released
Employees
11-50
Sector
Agriculture & Food TechnologiesFood TechNovel Food & IngredientsTarget Customer
Agriculture & FoodLivestockDairyProcessed FoodsIngredientsBeveragesCore Technology
BiologicalsMicroorganismsTags (10)
biofuelbiotechnologynovel-ingredientsfood-and-beverageanimal-feedingfoodtechnutritionsupplementsfood-ingredientsalternative-proteinSolutions
{"title":"Food & Beverage / Biotechnology","description":"Spacemilk is a cell-based protein powder utilizing Protevin, a sustainable and complete protein source produced through fermentation, offering a dairy-free, soy-free, and gluten-free alternative to traditional protein supplements.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":2,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Marginal / Localized","content":"Small, isolated improvement; measurable but not substantial."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":4,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Talent Development","value":1,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Negligible / Incidental","content":"No discernible or only trivial positive effect; status-quo unchanged."}},{"name":"Agility & Innovation","value":5,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}}]}
{"title":"Food & Beverage / Food Tech","description":"A plant-based, mushroom-based spread (BonMush) utilizing NextFerm's proprietary fungal protein (Protevin) as a healthy, allergen-free alternative to traditional spreads, targeting the growing vegan and health-conscious market.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":2,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Marginal / Localized","content":"Small, isolated improvement; measurable but not substantial."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":3,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Talent Development","value":1,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Negligible / Incidental","content":"No discernible or only trivial positive effect; status-quo unchanged."}},{"name":"Agility & Innovation","value":5,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}}]}
{"title":"Dietary Supplements","description":"Swanson's protein with Protevin is a dietary supplement featuring a sustainable, highly digestible, complete, and allergen-free yeast-based protein, designed to meet the growing consumer demand for plant-based and alternative protein sources.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":2,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Marginal / Localized","content":"Small, isolated improvement; measurable but not substantial."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":3,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Talent Development","value":1,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Negligible / Incidental","content":"No discernible or only trivial positive effect; status-quo unchanged."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
Use Cases
Spacemilk - Cell Based Protein Powder with ProtevinBonMush spread with ProtevinSwanson's protein with ProtevinGeographic Markets
North AmericaEuropeSouth AmericaWest AsiaUnited StatesGlobalSouth AsiaOceaniaNextFerm Technologies Financials
$19.18M
Total funding
Undisclosed
Capital raised
$9.18M
Last funding
Public
Funding stage
3
Total rounds
2
Investors
Cumulative Funding Raised Over Time ($)
$10.0MMar 2019
$10.0MMay 2014
Private Equity Funding
A Round
Mar 2019
$10M
Undisclosed Round
May 2014
Undisclosed
Daniel Recanati, Rhodium
Public Offering / Exit
POEvent
Jan 2021
Undisclosed
NextFerm Technologies Lifecycle
Cumulative Funding Raised Over Time
$10.0MMar 2019
$10.0MMay 2014
All Events
A Round
Mar 2019
$10M
Undisclosed Round
May 2014
Undisclosed
Daniel Recanati, Rhodium
POEvent
Jan 2021
Undisclosed
NextFerm Technologies News
19 articles
growth-negative
The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.
NextFerm Technologies Ltd., an Israeli food-tech company, is facing financial difficulties and is seeking a buyer. The company, which produces food ingredients in yeast without genetic engineering, has suspended most operations except for a joint venture in India. Its share price has plummeted, and it has laid off most of its employees to cut costs. Despite having developed a vegan protein product and other yeast-based products, the company has struggled to achieve profitability and expand production due to insufficient investment. NextFerms CEO expressed belief in the technology but acknowledged the need for more investment and time in the food-tech sector.
LayoffsAcquired-byPartners
growth-positive
חברת הפודטק הישראלית בעסקת ענק: שיתוף הפעולה הבינלאומי נחשף
NextFerm Technologies, a company that develops vegan protein substitutes based on yeast, has announced its first commercial order in Europe. The order is for the companys ProteVin™ product, which will be used in a sports nutrition formula in Spain. The company believes that the product will be a commercial success worldwide, leading to additional orders from new global customers. The launch is planned for the first half of 2024. In addition to the planned launch in Spain, the company has already launched ProteVin™ in the USA, Colombia, and Belgium.
CustomersExpand
growth-positive
נקסטפרם השלימה את השלב הראשון של מערך הייצור המסחרי בהודו
NextFerm Technologies, a food-tech company developing a vegan protein substitute based on non-genetically engineered yeast, has completed the first phase of its commercial production array in India for ProteVin. The company will now begin the process of running the production array for regulatory approval and product quality. NextFerm is also expanding its production array, which is expected to enable the company to achieve an annual sales volume of about $4 million by May 2024. The company notes that the array will allow the renewal of ProteVin supplies to existing customers and supplies to new customers.
ExpandCustomers
growth-negative
נקסטפרם מגייסת 54 מיליון שקל בהנפקה; המניה צוללת ב-64%
NextFerm, a company developing a vegan protein substitute, plans to raise tens of millions of shekels through a stock offering. The companys stock price has dropped by about 64% with a large trading volume of 1.3 million shekels. NextFerm will issue 180 million shares at a price of 30 agorot per share. The company currently has a cash balance of approximately $12 million and is traded at a valuation of only 4 million shekels.
Investment
growth-positive
Israel's NextFerm to open factory in N. Macedonia - report
NextFerm, an Israel-based food tech company, is set to open a factory for the production of fermented vegan protein in North Macedonia. The new plant, located in the southwestern part of the country, is expected to have an annual production capacity of ProteVin worth up to $10 million. NextFerm, known for producing vegan, non-GMO proteins used in food and dietary supplements, will replace its pilot production facility with this micro-factory.
Expand
growth-positive
NextFerm announces production deal for yeast-derived vegan protein
NextFerm, a company specializing in fermented protein, has announced plans to build a production plant in the Balkan region. The company, an outgrowth of Enzymotec, raised $9.2 million in an IPO in January 2021, valuing the company at $31.2 million. NextFerm also secured an additional $918,000 from existing investors. The ProteVin ingredient, made from brewers yeast, offers advantages over other plant-based proteins, including a complete suite of amino acids and a neutral taste. The new facility, with a capacity of $10 million, is expected to meet growing demand for the ingredient. NextFerms first ingredient, AstaFerm, is derived from Phaffia yeast and is used in aquaculture feed markets.
InvestmentExpand
growth-positive
NextFerm Technologies announces a strategic manufacturing agreement for the production of ProteVin™, its vegan protein, with a subcontractor in Europe
NextFerm Technologies has announced a strategic manufacturing agreement for the production of its vegan protein alternative, ProteVin™. The agreement is with a subcontractor in the Balkan region in Europe and will enable the production of ProteVin™ with an annual capacity of up to $10M starting in the second half of 2023. The plant commissioning plan allows for future expansion to a capacity of tens of millions of dollars. The necessary investment for the manufacturing plant and reaching the mentioned capacity is estimated to be approximately $6M. NextFerm Technologies aims to become a leading solution in the global alternative protein industry with ProteVin™, which has a neutral taste and animal-like nutritional value.
InvestmentExpand
growth-positive
NextFerm Technologies announces a $3 million Supply agreement for its vegan protein: ProteVin™
NextFerm Technologies has entered into a 4.5-year supply agreement with Spacemilk, an American vegan health and sports nutrition brand. The agreement is valued at approximately $3 million and includes the initial supply of protein in June 2022. Spacemilk is expected to launch a vegan sports nutrition protein powder based on NextFerms ProteVin™ brand in the fourth quarter of 2022. The agreement also includes a commitment to purchase and supply ProteVin™ totaling approximately $1.6 million from July 2022 to June 2025, with an estimation of an additional $1.4 million in purchases by the end of 2026. NextFerm is focused on expanding its production capacity and generating demand for ProteVin™ from potential customers in the food and dietary supplement industry.
Partners
growth-positive
NextFerm Technologies announces its first commercial delivery of ProteVin™, in the U.S
NextFerm Technologies has delivered two tons of raw material to SpaceMilk, a health and wellness brand, for the launch of its ProteVin-based product. This marks the achievement of the second strategic milestone for the company in 2022. NextFerm is expected to continue supplying ProteVin to customers and is in discussions with leading food and dietary supplement brands for integration. The alternative protein market is estimated to be worth $20 billion and is projected to grow to $290 billion by 2035. NextFerm is positioning itself as a leading innovator in the alternative protein market by offering a vegan protein with a neutral flavor and animal-like nutritional value. The company is also working on increasing production capacity to meet the expected increase in demand.
CustomersPartners
growth-positive
נקסטפרם טכנולוגיות מודיעה על תחילת ייצור מסחרי של ™ProteVin תחליף החלבון הטבעוני שלה
NextFerm Technologies, a food-tech company developing ProteVin, a vegan protein substitute based on yeast, has announced the completion of its production facility in Canada and the start of commercial production of ProteVin. The company is also progressing with its strategic plan and achieving further goals for 2022, including the delivery of initial orders received, creating demand, receiving additional orders, and expanding the production capacity of ProteVin from an initial production volume of tens of tons per year to an industrial scale of hundreds of tons per year in 2023.
Expand
growth-positive
Food-tech co NextFerm completes TASE IPO
NextFerm Technologies Ltd., an Israeli food-tech company, has completed its initial public offering (IPO) on the Tel Aviv Stock Exchange, raising NIS 30 million at a company valuation of NIS 115 million. The company, which develops novel active food ingredients based on yeast and fermentation, also raised NIS 5 million from existing investors. The company will be traded alongside many other food-tech companies on the TASE that have held IPOs in the past year.
Public TradingInvestment
growth-positive
NextFerm and Soft Gel Technologies collaborate to launch new astaxanthin ingredient
NextFerm and Soft Gel Technologies are releasing a new astaxanthin derived from yeast fermentation called Astaferm. The ingredient is specifically designed for softgel applications and will be offered as ready-to-use softgels. NextFerm sees a great opportunity to introduce a new and fresh approach to the market. Soft Gel Technologies CEO believes Astaferm is a natural and effective product that offers brands a simple way to differentiate themselves.
Partners
growth-positive
NextFerm announces new patent application for yeast-based astaxanthin
NextFerm Technologies has filed a patent for its natural astaxanthin derived from yeast fermentation, called Astaferm. The patent covers the Astaferm novel composition providing excellent antioxidative properties. The companys recent studies have shown evidence of its high antioxidative capacity compared to algae-derived astaxanthin. The patent allows NextFerm to share these findings with customers. Astaferm has a strong antioxidative effect and shows indications of potential prevention of blood lipid peroxidation. Astaxanthin derived from fermenting yeast is highly potent, flavorless, and odorless, making it suitable for various applications.
Customers
growth-positive
NextFerm Technologies files patent for astaxanthin-producing yeast strains
NextFerm Technologies, an Israeli biotech company, has filed a patent for producing natural astaxanthin from yeast fermentation for human nutrition. The patent will protect specific yeast strains used for its production. NextFerm is focused on developing and producing novel active ingredients for food based on non-GMO technologies. Their product, astaferm, is the first yeast-derived astaxanthin offered for human consumption. It has higher potency, better flowability, no odor or flavor, and competitive pricing. NextFerm will showcase astaferm at the upcoming Supply-Side West show.
PartnersCustomers
growth-positive
https://www.jpost.com/Israel-News/Israeli-firm-turns-to-yeast-to-revolutionize-the-fake-meat-market-600745
NextFerm, an industrial company specializing in fermentation-derived nutrients, aims to disrupt the plant-based meat market with proteins isolated from optimized strains of non-GMO yeast. The company is focused on the nutritional value of its proteins, particularly their leucine content, which is essential for muscle mass. NextFerm plans to target the sports nutrition sector and the adult and elderly population. The company is in negotiations with potential partners in the US and is planning to commence clinical trials. The market for vegan protein is expected to grow, and NextFerm aims to make a significant contribution to meeting the worlds protein needs.
CustomersPartners
growth-positive
The super yeasts producing protein and fuel
NextFerm, a company founded by former executives of Enzymotec, is developing specialist ingredients for the food industry using controlled evolution of yeast. The company has developed an antioxidant from improved yeast and yeast that is resistant to freezing. NextFerm has signed a cooperation agreement with Lallemand, a major yeast company, for the production of biological fuel and frozen yeast. The company is also launching an antioxidant product independently. NextFerm is currently seeking to raise $10 million in funding to support the launch of its products and the development of muscle-building protein substitutes. The company aims to provide protein substitutes similar to animal protein in taste and nutritional value.
InvestmentPartnersExpand
growth-positive
Israeli startup debuts astaxanthin from yeast for human consumption
NextFerm, an Israeli startup company, is bringing Phaffia yeast-derived astaxanthin to the market for human consumption. The yeast was first isolated in the 1960s, but NextFerm is the first to commercialize it for human use. The company has a deep talent pool and expertise in fermentation, and aims to replicate the success it had with a previous startup that went public. NextFerm has partnered with Lallemand in the past and utilizes non-GMO techniques for yeast enhancement. The Phaffia-derived astaxanthin has an advantage in its free, non-esterified form, which enhances absorption in the body. NextFerms mastery of the fermentation process allows for significant process efficiencies, making their ingredient cost competitive.
PartnersExpand
Mascoma and NextFerm team up on yeast innovations for biofuels
growth-positive
Israeli startup aims to make splash with fermentation technology
NextFerm, a company founded in 2015, is focusing on developing new ingredients from fermentation. The company utilizes two different kinds of yeasts as its fermenting organisms and manipulates them to produce desired bioactives. NextFerm aims to create and develop novel or better-than ingredients through a unique fermentation process. The company has a team with experience and expertise in science and regulatory compliance. NextFerm plans to showcase more of its story at the Expo West Trade Show in the fall. With 24 employees, NextFerm is positioning itself as a startup that sets itself apart from established fermentation players by being an innovator in the market.
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NextFerm Technologies Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 12 |
| Team members | 11 |
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NextFerm Technologies Internal
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Admin Info
| Confidence | 100/100 |
| Missing | markets |
| Registrar ID | 514999952 |
| Crunchbase | nextferm |
| Phone | +97246664505 |
| Last updater | Ortal Wein |
| Updater email | ortalw@sncentral.org |
| Last update | 2023-07-26T00:00:00.000Z |
| Created | 2016-05-17T00:00:00.000Z |
| Claimed | Yes |
| Status detail | Public on TASE on Jan, 2021; |