DouxMatok has raised $22 million in a series B funding round, enabling large-scale production and sales of its sugar-reduction solution as it hits the European and North American markets.
The Israeli company’s sugar reduction solution works by maximizing the efficiency of sugar delivery to the mouth’s sweet taste receptors, enhancing the perception of sweetness. Food products made with this solution, featuring 40 percent less sugar than the original recipes, are proven to be the same quality without compromising taste, mouthfeel or texture.
The DouxMatok technology platform is backed by 20 granted patents and has been developed over six years by a multidisciplinary team of scientists with specializations in material sciences, organic and green chemistry, sensory sciences, drug delivery and food science. Independent consumer and expert sensory panel tests have confirmed that products made with DouxMatok sugars were not only perceived to be as sweet as the full sugar reference, but were often favored in blind tastings both in terms of preference and purchase intention.
The funding round, led by BlueRed Partners from Singapore, includes strategic investors Südzucker AG, the largest European sugar company; Royal DSM, a global leader in science-based nutrition, health and sustainable living; and Singha Ventures, a corporate venture fund of Singha Corporation, one of Thailand’s largest food and beverage conglomerates. Additional participants in the round included existing shareholders Pitango Venture Capital, Jerusalem Venture Partners, as well as new financial investors including BtoV Partners, OurCrowd and La Maison.
DouxMatok is soon expected to complete the industrial manufacturing of its sugars in Europe, jointly with Südzucker AG, followed by commercialization in North America. DouxMatok is also engaged in multiple collaborations with leading food companies to reformulate popular products. Initial commercial quantities of DouxMatok sugar are expected to be available in the last quarter of 2019.
DouxMatok also plans to expand its technology platform to include next generation products and flavors such as salt.
"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,” Eran Baniel, DouxMatok ceo and co-founder, said. “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.”