DouxMatox was selected among the top 50 companies worldwide in the Foodtech and Agtech (agriculture tech) sectors in 2020, put together by SVG Ventures-THRIVE and published by Forbes this week. Equally remarkable was that there were nine other Israeli companies on this list!
THRIVE is an ecosystem and an accelerator for Foodtech and Agtech startups worldwide. The annual top 50 lists are published as a map infographics showcasing “exceptional companies… pushing the boundaries of innovation and technology,” the publication said.
The companies on the lists “are scouted for their exemplary leadership teams, technology, and traction and are selected following months of rigorous research by the SVG-THRIVE team.” To qualify, the publication wrote, companies “must have a product in the market, have received a minimum of series A funding and be ready to scale.”
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.
“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 technology platform globally, the only one that enables us 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, a food-tech company, and pioneer in the development of efficient flavor delivery raised $22 Million in a Series B funding round during 2019. 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.
For further information: info at douxmatok.com
Source – SVG TRIVE VENTURES