Israeli sugar reduction company DouxMatok has raised $22 million in a Series B funding round, including investments from Südzucker and DSM.
DouxMatok said the round, which was led by BlueRed Partners from Singapore, will enable the large-scale production of its sugar reduction solution to the food industry, as it commercialises in Europe and North America.
The first product developed under DouxMatok’s proprietary platform is a sugar-based sugar reduction solution. The solution works by maximising the efficiency of sugar delivery to the mouth’s sweet taste receptors, enhancing the perception of sweetness.
The company 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”.
DouxMatok is soon expected to complete the industrial manufacturing of its sugars in Europe, jointly with Südzucker, followed by commercialisation in North America. Initial commercial quantities of DouxMatok sugar are expected to be available in the last quarter of 2019.
“We are thrilled to have the opportunity to speed up commercialisation 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.”
Randolf Burisch, head of business unit sugar/sales of Südzucker, added: “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.”
In 2017, DouxMatok closed an $8.1 million financing round. The company then announced a partnership last year with Südzucker to commercialise its technology across Europe.
© FoodBev Media Ltd 2019