PETACH TIKVA, Israel, June 19, 2019 /PRNewswire/ -- DouxMatok, a food-tech company and pioneer in the development of efficient flavor delivery, announced today it has raised $22 Million in a series B funding round. This funding enables large scale production and sales of its game changing sugar reduction solution to the food industry, as it commercializes in Europe and North America. The company also plans to expand its technology platform to include next generation products and flavors, such as salt. The 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 & beverage conglomerates. Additional participants in the round included existing shareholders: Pitango Venture Capital, Jerusalem Venture Partners (JVP), Food Lab Capital, as well as new financial investors, including btov Partners, OurCrowd and La Maison.
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 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 sugar reduction solution works by maximizing the efficiency of sugar delivery to the mouth's sweet taste receptors, enhancing the perception of sweetness. DouxMatok's technology platform is backed by 20 granted patents, and has been developed for over 6 years by a leading 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.
Eran Baniel, DouxMatok CEO and Co-Founder, stated: "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 so as to meet the huge market demand we're experiencing."
"The task of providing a sugar reduction solution is not only important for the consumer, but also for food corporations that rely on sugar to create the world's top-selling products. We're looking forward to supporting DouxMatok's team in scaling their breakthrough technological platform globally, the only one that enables to reduce sugar with sugar," said Yishai Klein, Managing Partner of BlueRed Partners, Series B lead investor.
DouxMatok is soon expected to complete the industrial manufacturing of its sugars in Europe, jointly with Südzucker AG, the largest European sugar company, followed by commercialization in North America. In parallel, DouxMatok is engaged in multiple collaborations with leading food companies to reformulate popular products and to offer consumers a way to enjoy their favorite food and snack products with a greatly improved nutritional profile. Initial commercial quantities of DouxMatok sugar are expected to be available in the last quarter of 2019.
"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," stated Randolf Burisch, Head of Business Unit Sugar / Sales of Südzucker AG.
Ittai Harel, Managing General Partner at Pitango Venture Capital, that led the Series A funding round, also stated, "We're committed to supporting companies with a world-changing vision, and DouxMatok has clearly proven to be such a company, with its focus and progress in developing and providing market access to a sugar reduction solution for food producers globally. We're excited to be a part of such an innovative team and offering."
DouxMatok is pioneering the development of efficient flavor delivery technologies while improving the nutritional profile of food products. Patented through 20 granted patents, its sugar reduction solution maximizes the efficiency of sugar delivery to the mouth's sweet taste receptors and enhances the perception of sweetness, enabling substantial sugar reduction without compromising taste, mouthfeel, or texture. Independent consumer and expert sensory panel tests, conducted by a Nielsen subsidiary, have confirmed that, when using DouxMatok sugar, it is possible to reduce more than 40% of the sugar content in a wide range of food products while retaining the same taste profile. DouxMatok was awarded the Prime Minister of Israel Innovation Prize for 2018.
For more details: www.douxmatok.com
About BlueRed Partners
BlueRed Partners is a Singapore-based fund that focuses on investing in disruptive, early- and growth-stage technology companies that offer solutions for significant market needs and trends in Asia. The managing partners of BlueRed have been based in Asia for over 20 years, and have deep investment and advisory experience working with companies in Asia Pacific and Israel. Leveraging its network throughout the region, BlueRed Partners enables entrepreneurs to build and scale successful ventures.