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Israeli FoodTech start-up Blue Tree Technologies has raised $2.26 million in a funding round led by OurCrowd, with additional investment from Sucden Ventures.
The company specialises in a patented process for selectively removing sugars from beverages, including juice, milk and beer.
The investment comes as the company recovers from disruptions caused by relocating from its northern Israeli facilities and the reserve call-up of some employees at the onset of the war in October. Despite these challenges, Blue Tree has obtained self-affirmed FDA food safe status for its sugar reduction technology, meeting US Food and Drug Administration requirements.
Blue Tree's CEO, Michael Gordon, said: “On 7 October, our primary focus was on the safety of our team, as many faced reserve duty and had to evacuate their homes along with their families, and we quickly adapted to the situation with a reduced team but heightened determination”.
He continued: “We secured a new location and continued with both fundraising and product development. During this period, Blue Tree strategically expanded its solution to encompass additional categories. Although we remain displaced from the northern Israeli AgTech valley in the Galilee, where we graduated from Israel’s Fresh Start incubator in June 2022, our commitment to the region endures."
"For five four years, we have worked with local industry leaders, developing a long-term vision. We are proud to secure funding during these challenging times from key partners, enabling us to reach our audience this year. This demonstrates our commitment to innovation and our goal of improving healthy beverage choices. With this additional funding, we aim to make a significant impact worldwide, one sugar molecule at a time.”
Sucden's chief investment officer, Gregory Merran, added: “At Sucden Ventures, we believe that effective sugar reduction strategies must be tailored to specific applications. We don't adhere to a one-size-fits-all approach in the effort to reduce sugars in food and beverages. In the context of juices, Blue Tree's technology, which selectively removes sugars, is especially relevant and perfectly complements our portfolio of solutions.”
OurCrowd's general partner and head of portfolio management, Ron Stern, commented: “We are very proud of the great progress and incredible resilience of BlueTree over the past nine months and are humbled by Sucden’s interest to join us on this exciting journey. BlueTree’s breakthrough sugar reduction technology has the potential to transform the beverage industry. Sucden’s industry depth and reach bring not only great validation to BlueTree’s technology but will also help expedite its adoption and shorten time to market.”
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