ISRAEL – DouxMatok, an Israeli flavor ingredients solution provider has raised US$22 million in Series B funding round to enhance commercialization of its sugar reduction solutions to the food industry.
Led by BlueRed Partners from Singapore, the round was also contributed by strategic investors: European sugar company Südzucker AG, Royal DSM, and venture fund Singha Ventures, plus existing shareholders.
The funding will enable it scale production, sales and commercialization of its game changing sugar reduction solution in Europe and North America.
The company said it also plans to expand its technology platform to include next generation products and flavors, such as salt.
DouxMatok has developed a sugar-based sugar reduction solution, to achieve 40% less sugar in products compared to original recipes while resulting in the same quality, taste, mouthfeel and texture.
The solution which works by maximizing the efficiency of sugar delivery to the mouth’s sweet taste receptors addresses the growing consumer demand for reduced sugar in their diets.
“We are thrilled to have the opportunity to speed up commercialization so that we can lead the quest for reducing added sugars, while providing consumers with the tastes they love and want,” said Eran Baniel, DouxMatok CEO and Co-Founder.
“We’re grateful to our new investors and existing ones for making it possible for the company to speed up growth so as to meet the huge market demand we’re experiencing.”
DouxMatok’s technology platform is backed by 20 granted patents, developed by a team of scientists specialized in material sciences, organic and green chemistry, sensory sciences, drug delivery, and food science.
The company is expecting to complete the industrial manufacturing of its sugars in Europe, jointly with Südzucker AG, Europe’s leading sugar company followed by commercialization in North America.
Initial commercial quantities of DouxMatok sugar are expected to be available in the last quarter of 2019.
“We at Südzucker are thrilled to expand upon our collaboration with DouxMatok and leverage the already proven synergies, as well as additional resources gained as a part of the new funding round, to speed up availability of the innovative DouxMatok sugars in our key European markets,” said Randolf Burisch, Head of Business Unit Sugar / Sales of Südzucker AG.
