Israeli food-tech company PhenOlives has received $270,000 from OurCrowd as part of an ongoing $1 million funding round, with the appointment of former Nestlé Israel CEO, Itzik Saig, as Chairman of the Board. The company has developed a patented, chemical-free process to convert olive pomace, a byproduct of olive oil extraction, into high-fiber, gluten-free olive flour and concentrated polyphenols. This innovative approach is set to revolutionize the economic conversation for olive mills worldwide by turning waste into a commercially viable product.

The investment will be used to secure orders for more than 100 tons of olive flour in 2026, expand commercial operations in Israel, select a European mill for a 2027 system installation, and advance research into ingredients derived from olive blackwater. With Saig's expertise in global food operations, PhenOlives aims to expand internationally and reshape the value chain of olive production. OurCrowd's support demonstrates confidence in PhenOlives' technology and market potential, positioning the company for significant growth and sustainability impact in the food industry.