DouxMatok Announces $8.1 Million in Funding led by Pitango to Accelerate Commercialization of its Breakthrough Sugar Reduction Technology

PETAH TIKVA, Israel, September 19, 2017 /PRNewswire/ --

DouxMatok, developer of targeted flavor delivery technologies, has announced $8.1M in funding to commercialize its patented sugar reduction solution by the end of 2018. Tests conducted by food & beverage multinationals have confirmed that, when using DouxMatok sugars, they can reduce up to 40% of the sugar content in their products while retaining the same taste profile. The funding round was led by Israel's largest Venture Capital fund, Pitango, with the participation of existing shareholders, including Gil Horsky and FoodLab Capital.

By maximizing the efficiency of sugar delivery to the taste buds and enhancing the perception of sweetness, DouxMatok significantly reduces the caloric value and sugar levels of products. Perception of sweetness is stronger, and lingers longer, resulting in higher satisfaction and reduced craving for sweetness. Unlike sugar substitutes or artificial sweeteners, DouxMatok carries no aftertaste and is produced using sustainable green chemistry principles while being fully compliant with FDA and EU regulations.

Following successful sensory validation and pilot testing, the company is currently working closely with leading food & beverage multinationals to scale-up and commercialize the first consumer products with DouxMatok's sugar reduction technology.

"This round of financing facilitates speeding up our scale-up and commercialization. We hope that DouxMatok will become a trusted leading brand in the efforts to reduce sugar consumption to healthier levels, so we can continue to enjoy the foods we love," said Eran Baniel, CEO and Co-founder, DouxMatok. "Given all the investment opportunities they explore, we're proud that Pitango chose DouxMatok, and are already contributing to our speedy progress. We are grateful to Gil Horsky and FoodLab Capital, our existing investors, for their continued support."

"The potential of DouxMatok's technology is immense," said Ittai Harel, Managing General Partner, Pitango. "Having been tested independently by 3^rd party evaluators, as well as by major food manufacturers, the company has proven its ability to achieve desired sweetness level with significantly reduced sugar content. Major food manufacturers are actively seeking healthy viable alternatives to the high levels of added sugar currently in use and we are confident DouxMatok will become an enabler and trusted partner to the industry, and for consumers, in this mission."

Gil Horsky, an Executive in the Food Industry said, "The obesity and diabetes epidemics and their broader societal consequences are shifting the way consumers and policy-makers are thinking about food. They are expecting food companies to be part of the solution, by reducing the amount of sugar in their products." Horsky further described, "DouxMatok enables food manufacturers for the first time to provide their consumers with the exact same taste they know and love, but with significantly lower sugar content - that is game-changing for the industry."

About DouxMatok  

DouxMatok is pioneering the development of targeted flavor delivery technologies, while improving the nutritional profile of food and beverage products. Its patented sugar reduction solution targets the taste buds with an efficiently delivered concentrated dose of flavor that enables sugar reduction up to 40% and lower caloric value without compromising on taste. The technology behind DouxMatok is the brainchild of the inventor Prof. Avraham Baniel and the company is led by the serial entrepreneur Eran Baniel, with an extended interdisciplinary team of experts in the fields of food-sciences, bio-tech, applied chemistry and culinary product development. DouxMatok is supported by the Israeli Innovation Authority, has won the Horizon 2020 phase 1, and is a member of the EIT Rising Food Stars. DouxMatok was the winner of Agrivest 2015 and DLD Tel-Aviv 2016.

For more details: www.DouxMatok.com.

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SOURCE DouxMatok