DouxMatok bags US$30M in latest funding round, rebrands to Incredo
25 May 2023 --- Israeli-based food tech company DouxMatok has announced it is rebranding to Incredo, coinciding with the company’s completion of a US$30 million Series C funding round. The business will now share its name with its Incredo Sugar product.
“Now that our flagship product, Incredo Sugar, has become commercially available and is gaining more awareness within the industry, we have decided to simplify our communications by unifying our identity under the name ‘Incredo’ – a single, powerful brand that will be memorable to our customers as we gear up for a period of continuous growth and commercialization,” says Ari Melamud, CEO.
“We’re pleased to close this Series C round with a mixture of strong strategic and financial investors. 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,” he continues.
The funding, led by DSM-Firmenich Venturing and Sienna Venture Capital, aims to fuel research and development, expand commercial partnerships and integrate Incredo’s flagship product, Incredo Sugar, into various applications.
Incredo produces a sugar-based sugar reduction solution that manufacturers can use to reduce sugar content by 30% to 50% without sweeteners.
Shiri Ranot, the company’s global marketing director & brand partnerships, previously told us this ingredient helps brands “healthify their products” while it does not affect their flavor profile.
The company changes how sugar is crystallized, making it more efficient as it dissolves faster and reaches sweet taste receptors. Facilitating the transportation of sugar molecules to the taste receptors on the tongue by combining small quantities of a natural carrier with a real cane or beet sugar.
With that, manufacturers can reduce sugar content by 30% and 50% in chocolate, bakery products, bars and gummies.
“Incredo has everything in the right place for Incredo Sugar to appear in products around the world, and our capital injection will help support this mission-driven company to accelerate its growth,” Isabelle Amiel-Azoulai, managing partner at Sienna Venture Capital notes.
The company expanded into the US market in June 2022.
In 2023, Incredo aims to expedite the commercialization of Incredo Sugar, making it more widely available across the US, Europe and Israel, while also introducing it to new markets.
Edited by Marc Cervera
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