NEW YORK — Food technology company Incredo, formerly DouxMatok, has raised $30 million in Series C funding to support research and development and accelerate commercial partnerships.
The company’s flagship product, Incredo Sugar, improves the efficiency of sugar delivery to the sweet taste receptors and enhances the perception of sweetness, enabling sugar reduction without compromising taste, mouthfeel or texture, according to the company. Sugar may be reduced by 30% to 50% in a range of applications. Last year, Incredo formed partnerships with Batory Foods and Blommer Chocolate Co.
“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, chief executive officer of 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. But most importantly, we’ll be giving food companies a vital tool to create delicious, healthier foods without compromising on the No. 1 consumer purchasing decision — taste.”
The Series C round was led by dsm-firmenich Venturing and Sienna Venture Capital, with participation from Teseo Capital, Pitango and BlueRed Partners.
“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 at 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.”
