Israeli sugar reduction company DouxMatok has announced it has closed an $8.1 million financing round as it aims to commercialise its patented sugar reduction solution by the end of 2018.
The round was led by Israel’s venture capital fund Pitango, with the participation of existing shareholders, including Gil Horsky and FoodLab Capital.
DouxMatok claims that when food and beverage producers use its sugars they can reduce ‘up to 40% of the sugar content in their products while retaining the same taste profile’.
By maximising the efficiency of sugar delivery to the taste buds and enhancing the perception of sweetness, DouxMatok says it reduces the caloric value and sugar levels of products.
Perception of sweetness is said to be stronger and lingers longer, resulting in ‘higher satisfaction and reduced craving for sweetness’. DouxMatok’s products are produced using sustainable green chemistry principles, while being fully compliant with FDA and EU regulations.
Following initial testing, the company is working with leading food and beverage multinationals to scale-up and commercialise its first consumer products.
DouxMatok CEO and co-founder Eran Baniel said: “This round of financing facilitates speeding up our scale-up and commercialisation. We hope that DouxMatok will become a trusted leading brand in the efforts to reduce sugar consumption to healthier levels, so we can continue to enjoy the foods we love.
“Given all the investment opportunities they explore, we’re proud that Pitango chose DouxMatok, and are already contributing to our speedy progress. We are grateful to Gil Horsky and FoodLabCapital, our existing investors, for their continued support.”
Pitango managing general partner Ittai Harel claimed the potential of DouxMatok’s technology is ‘immense’.
“Having been tested independently by third-party evaluators as well as by major food manufacturers, the company has proven its ability to achieve desired sweetness level with significantly reduced sugar content,” he said.
“Major food manufacturers are actively seeking healthy viable alternatives to the high levels of added sugar currently in use and we are confident DouxMatok will become an enabler and trusted partner to the industry and for consumers in this mission.”
© FoodBev Media Ltd 2024