Enzymotec Has Successfully Completed a New Investment Round of $11 Million and is About to Close an Additional $7M Line of Credit from a Leading Israeli Bank
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 next years.
03/02/09 Enzymotec Ltd. announced that it successfully completed 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 next years“.
Mr. Luis Aranguren, Arancia Industrial S.A. de C.V Executive President said: "We are excited to join Enzymotec and be a part of the development and production of lipid-based innovative health solutions."
Enzymotec was named among the top 12 fastest-growing technology companies in Israel chosen at the Deloitte’s 2008 Israel Technology Fast 50 Program. The Deloitte’s 2008 Israeli Fast 50 Program ranks Israeli Technology companies based on their five-year revenue growth in percentages between 2003 and 2007 based on audited figures. The Deloitte Technology Fast 50 program is part of the Global Fast 500 program.
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.
