NEW YORK--(BUSINESS WIRE)--Today, leading global food tech company DouxMatok has announced a rebrand to: Incredo LTD. The unveiling of the new name, based on the company’s signature product Incredo® Sugar, coincides with Incredo's announcement that it has raised $30 million in a Series C funding round to further support research and development, integrate its product in a variety of applications and accelerate its commercial partnerships. This latest round of funding is led by dsm-firmenich Venturing and Sienna Venture Capital, along with strategic commercial partners such as Ferrero and investments from new investors including Teseo Capital and existing investors Pitango and BlueRed Partners, who led the previous round.
Incredo’s capital raise will help the company expand its research, development and commercialization efforts into its flagship product, Incredo® Sugar. Incredo Sugar is a first-of-its-kind, delicious, clean-label sugar reduction solution that reduces the amount of sugar in sweet foods by 30-50%, with no change in taste, mouthfeel, or texture, and no additions to the ingredients label. By binding real cane or beet sugar with trace amounts of a natural carrier, Incredo Sugar aids in the delivery of sugar molecules to sweet taste receptors on the tongue. This means that less sugar is required for the same level of sweetness.
“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 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 number one consumer purchasing decision - taste.”
Incredo’s latest round of funding comes on the heels of a successful 2022, when it announced partnerships with Batory Foods and Blommer Chocolate Company. Incredo is looking to accelerate commercialization of Incredo Sugar in 2023, with new and increased availability across the US, Europe, and Israel.
“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.”
To learn more about Incredo, please visit incredosugar.com, or follow along on LinkedIn.
About Incredo LTD
Incredo LTD (f.k.a. DouxMatok) is pioneering the development of efficient nutrition and flavor delivery technologies. Its flagship product is its first-of-its-kind sugar-based sugar reduction solution, Incredo® Sugar, which maximizes the efficiency of sugar delivery to the sweet taste receptors and maintains the same level of sweetness, enabling substantial sugar reduction without compromising taste, mouthfeel, or texture. Independent consumer and expert sensory panel tests have confirmed that, when using Incredo® Sugar, it is possible to reduce 30%-50% of the sugar levels in a wide range of food and snack products while retaining consumer preferences. For more information, please visit incredosugar.com, or follow along on LinkedIn.
About Incredo® Sugar
Recognized as a special mention in the ‘Best Inventions of 2020’ by TIME, Incredo® Sugar is the flagship product of Incredo LTD (f.k.a. DouxMatok), a global food tech company pioneering the development of efficient nutrition and flavor technologies and enabling tastier and healthier consumption of foods. Incredo® Sugar is a first-of-its-kind, clean-label, sugar-based sugar reduction solution that improves the efficiency of sugar delivery to the sweet taste receptors and achieves the same level of sweetness while enabling substantial sugar reduction without compromising taste, mouthfeel, or texture. Based on real cane sugar, this breakthrough, patented sugar reduction solution enables food manufacturers to develop delicious, better-for-you formulations that deliver great taste experiences and enhance nutritional values of sweet food products while reducing sugar. For more information, please visit incredosugar.com, or follow along on Facebook and Instagram.
About dsm-firmenich Venturing
dsm-firmenich Venturing is the corporate venturing arm of dsm-firmenich, innovators in nutrition, health, and beauty. dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world’s growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss-Dutch company, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life™ every day, everywhere, for billions of people.
About Sienna Venture Capital
Sienna Venture Capital is the subsidiary of Sienna Investment Managers dedicated to venture capital investments, founded by Isabelle Amiel-Azoulai and her team, Thomas Visan and Mikaël Pereira. Based in Paris, with an international network in the main technology hubs, Sienna Venture Capital invests in early-growth companies that aim to sustainably transform their sector and society according to their "Tech for Purpose" vision. The amounts invested per deal range from $5 million to $15 million. They will target companies in various sectors such as cybersecurity, fintech, digital health, foodtech, agritech, artificial intelligence, mobility, etc.
