Sugar Enhancing Startup DouxMatok Raises $22 Million

Petah Tikva-based sugar enhancing startup DouxMatok Ltd. has raised $22 million in a funding round led by Singapore-based firm BlueRed Partners, the former announced Wednesday.

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DouxMatok’s product makes sugar taste sweeter by maximizing the efficiency of transporting sugar to the taste buds and enhancing the sense of sweetness transmitted to the brain. According to the company, this leads to a more robust and longer-lasting sensation of sweetness.

DouxMatok was founded in 2014 and is based in Petach Tikva, a town in the Tel Aviv area.

DouxMatok intends to commercialize its branded sugars in early 2020, the company’s CEO and founder Eran Baniel said in a phone interview with Calcalist Wednesday.

In addition to its sugar enhancing product, the company is currently working on vanilla enhancers as well, to answer the worldwide shortage of vanilla, Baniel said.

Israel-based firm Pitango Venture Capital, Frankfurt-listed sugar manufacturer Südzucker AG, Jerusalem Venture Partners (JVP), Thailand’s Singha Ventures, Israel-based FoodLab Capital Ltd., Swiss venture firm Btov Partners, Luxembourg-based La Maison and Jerusalem-based equity crowdfunding company OurCrowd Ltd. also participated in the round.