May 24, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

The physical system through which humans taste food is inefficient, with many sugar molecules moving through the mouth without registering with taste receptors – meaning humans eat sweet foods without tasting their full sweetness, requiring food companies to add more sugar than is needed to achieve a certain taste.

DouxMatok was launched with the goal of transforming how sugar is tasted and perceived by humans, and how it is utilized by the food industry.

In support of this goal, the company announced it has closed on a $30 million Series C led by dsm-firmenich Venturing and Sienna Venture Capital, and including Ferrero, Teseo Capital, and existing investors Pitango and BlueRed Partners, who led the company’s previous round. 

At the same time, DouxMatok announced it has rebranded as Incredo, a name reflective of its flagship product Incredo® Sugar.

Incredo’s technology coats each sugar molecule onto organic ‘carriers’ using a natural mineral that transports each sugar molecule to a person’s taste receptors, significantly reducing the amount of sugar needed to gain the same taste profile. 

Eran Baniel, co-founder and chairman, Incredo, explained to GAI News in a prior interview, “These potent clusters of sugar molecules target the taste receptors providing a strong experience of sweetness that is both satisfying and longer lasting than a traditional sugar. It is using a targeted flavor delivery system.”

Through maximizing the efficiency in the process of tasting sugar, the company’s technology allows consumers to perceive more sweetness for a longer period of time, thereby reducing the necessary sugar content in foods by 30-50 percent without changing taste, mouthfeel, or texture, or having to add any additional ingredients. 

“Incredo has developed one of the most promising innovations in the food space we’ve seen – a delicious affordable and clean-label product that can reduce the sugar in foods without additives or changes to taste,” said Isabelle Amiel-Azoulai, managing partner, Sienna Venture Capital. 

“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.”

This capital infusion follows a very successful 2022 for Incredo, having announced partnerships with Batory Foods and Blommer Chocolate Company.

“Batory Foods takes pride in providing a range of high-quality ingredient solutions for our customers, and sugar reduction has been a key area of focus since our company was founded,” said Vince Pinneri, president, Batory Foods. “Adding an innovative solution like Incredo® Sugar to our portfolio of ingredients provides an excellent opportunity for us to keep up with growing demands of both consumers and food brands looking for products that are both indulgent and deliver on nutrition. Another major advantage that we see in Incredo® Sugar is that supply is not limited.”

“We’ve been working to provide a reduced-sugar chocolate offering for a long time, and when we began working with Incredo® Sugar, we knew it would be successful,” commented David Meggs, chief operating officer, Blommer Chocolate Company. 

On the heels of these successes, Incredo stated that it is looking to accelerate commercialization of its Incredo Sugar this year with an eye toward increased availability across the U.S., Europe, and Israel.

“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,” said Ari Melamud, CEO, Incredo LTD. 

“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,” continued Melamud. “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.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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