Draft:Incredo

Incredo (Formerly DouxMatok) is a privately held food-tech company focused on healthifying food products, with emphasis on sugar reduction. Incredo Sugar, the company’s first available product, is a sugar-reduction solution made from real cane or  beet sugar, that has proven effective in reducing sugar by 30-50% in food applications. Incredo Sugar’s primary use is for non-liquid treats, such as cakes, chocolates, gummies, spreads, and many other confectionery goods.

The company currently holds over 24 patents.

History
The original patent covering the technology was filed by Prof. Baniel on May 16, 2006, and was granted in December 16, 2014. Incredo was established in 2014 as DouxMatok, by Professor Avraham Baniel and his son, Eran Baniel. They raised their first seed investments, and subleased two R&D benches in a Petach Tikva-based pharmaceutical lab where the first samples were made and tested.

DouxMatok received an investment of $8 Million (USD), led by Israeli venture capital firm Pitango, in 2017. Ramping up R&D efforts and expanding their team beyond the two founders, DouxMatok continued developing Incredo Sugar, which combines sucrose with various carriers via hydrogen bonds, and is meant to replace all traditional sugar in a given application.

In 2019, Incredo secured $22 million in series B funding. By 2020, Incredo's growth necessitated a larger space than their office in Petach Tikva. The company moved to a new facility in Kiryat Arye, Israel, expanding its research capabilities.

In 2023, the company announced its series C funding round, where they raised over 30 million dollars. Additionally, the company publicized its name change from DouxMatok to Incredo, claiming the shift would create greater cohesion between the brand and the product.

In August of that year, they announced that two new Co-CEOs would take over, Kelly Thompson and David Tzivion.

Product
Incredo’s technology aims to make the flavor and sweetness of sugar more efficient, so that less can be used in a given application. Incredo’s technology binds cane or beet sugar with trace amounts of a natural carrier that is able to reduce the amount of sugar in foods. By increasing efficiency, Incredo is able to lower sugar content in a recipe by 30-50%, while maintaining the same taste and level of sweetness.

Incredo Sugar is non-GMO, made from real sugar (sucrose) and does not contain any artificial sweeteners (aspartame, saccharin, sucralose), sugar alcohols (erythritol, xylitol, or sorbitol), or natural alternatives (stevia, monk fruit extract). It is compliant with FDA and EFSA regulations, and it is also sustainable according to the green chemistry principles.