Incredo Sugar, an Israeli company specializing in sugar reduction technology, has successfully raised $30 million in funding to expand its presence in the UK and Europe. Formerly known as DouxMatok, the company claims to have the ability to reduce the sugar content in sweet foods by 30% to 50%. The Series C funding round was led by DSM Venturing and Sienna Venture Capital, with participation from strategic commercial partners like Ferrero, as well as new investors Teseo Capital. This latest investment brings the total funds raised by Incredo Sugar to $60 million, which will be utilized to strengthen its commercial partnerships, facilitate research and development efforts, and drive expansion in the US and Europe.
Incredo Sugar aims to play a significant role in sugar reduction without relying on artificial sweeteners. The company’s approach involves binding real cane or beet sugar with small amounts of a natural carrier. This unique method enhances the delivery of sugar molecules to the taste receptors on the tongue, allowing for a reduction in sugar consumption without compromising on taste. By implementing this technology, Incredo Sugar believes it can contribute to a substantial decrease in the environmental impact of the sugar industry, including factors like sugarcane cultivation, refinery size, and transportation and warehousing requirements.
Ari Melamud, the CEO of Incredo Sugar, expressed his enthusiasm about the funding, stating, “Thanks to this funding, Incredo Sugar will reach more mouths in more places than ever before. But most importantly, we’ll be giving food companies a vital tool to create delicious, healthier foods without compromising on the number one consumer purchasing decision – taste.”
In addition to securing $30 million in funding, Incredo Sugar has recently formed partnerships with Batory Foods and Blommer Chocolate Company, further solidifying its position in the market. These collaborations are expected to facilitate the incorporation of Incredo Sugar’s innovative product into a wide range of food products globally. Isabelle Amiel-Azoulai, Managing Partner at Sienna Venture Capital, commented on the company’s potential, saying,
“Incredo has developed one of the most promising innovations in the food space we’ve seen. Incredo has everything in the right place for Incredo Sugar to appear in products around the world, and our injection of capital will help support this mission-driven company to accelerate its growth.”
The funding round also saw participation from existing investors Pitango and BlueRed Partners, who had previously led the company’s funding round. Their continued support demonstrates confidence in Incredo Sugar’s technological advancements and future prospects.
With the additional funds raised, Incredo Sugar is well-positioned to expand its market presence and make a significant impact in the food industry. By offering a solution that enables the creation of healthier food options without sacrificing taste, Incredo Sugar aims to address the growing demand for reduced-sugar products. With strategic partnerships, ongoing research and development, and a strong commitment to its mission, Incredo Sugar is poised to revolutionize the sugar reduction landscape and contribute to a healthier future.