Israeli food-tech company and pioneer in sugar reduction delivery, DouxMatok, has announced it has raised $22m in a series B funding round, which will go towards large scale production and sales of its ‘game changing’ solution to the food industry,
Targeting Europe and North America, the first product developed under DouxMatok's proprietary platform is a sugar-based sugar reduction solution. Food products made with this solution of 40% less sugar than when made with the original recipes, are proven to be the same quality without compromising taste, mouthfeel, or texture.
DouxMatok says it provides an answer to the growing concern from consumers around too much added sugar in their diets and the global call, including from regulators, for reduced sugar in food products.
The company also plans to expand its technology platform to include next generation products and flavors, such as salt. The B funding round was led by BlueRed Partners from Singapore.
Eran Baniel, DouxMatok CEO and co-founder, said: "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. We're grateful to our new investors and existing ones for making it possible for the company to speed up growth to meet the huge market demand we're experiencing."
DouxMatok is close to completing the industrial manufacturing of its sugars in Europe, jointly with Südzucker AG, the largest European sugar company, followed by commercialization in North America.