DouxMatok renamed itself Incredo and raised $30M to cut sugar in food by up to half

Sells Incredo Sugar, a sugar-reduction ingredient that lets food manufacturers cut sugar 30-50% without changing taste or label

$60M total; $30M Series C in May 2023 co-led by dsm-firmenich Venturing and Sienna Venture Capital, after a Series B in 2019

DouxMatok developed its sugar-binding technology in Israel; TechCrunch profiled the company in 2017 while the technology was still in development. Eran Baniel led it through a 2019 Series B. In 2021 Ari Melamud took over as CEO with objectives that included taking the product to market and kicking off another fundraising round.

2022 became the company's first commercial year, with partnerships secured from Batory Foods and Blommer Chocolate Co.; Melamud said the company 'basically hit our target' without giving revenue. It launched in Europe in early 2023, built a North American headquarters in Austin, and was running what Melamud called hundreds of projects with large US food makers. In May 2023 it renamed itself Incredo after its product and announced the $30M Series C.

Non-sugar sweeteners keep failing on taste and clean label, and the WHO's May 2023 guidance undercut them further

Incredo's carrier keeps real sugar's taste and texture, the two things Melamud said consumers told brands they hated about alternatives

Ferrero joining as a strategic commercial partner validates the ingredient for large food manufacturers

The first commercial year hit its target, so the Series C rested on live partnerships rather than promises

Renaming the company after the product sharpened the pitch, but Melamud kept expectations slow: manufacturers need two years or more to change recipes.

As of May 2023 Incredo Sugar was commercially available, with the company launched in Europe, active in Israel and the US from an Austin headquarters, and an Asia launch planned later in 2023. Melamud planned to invest the new funding largely in R&D for new product versions and in commercialization. North American efforts were led by Kelly Thompson, who joined in 2022 from R&D roles at Kraft Foods.