Global food tech company Incredo has received $30m (£24.2m) in funding to develop products using its sugar reduction ingredient Incredo Sugar in the UK and four other European markets.
Suitable for use in baked goods and confectionery, Incredo Sugar is said to be a first-of-its-kind, clean label sugar reduction solution which contains 40% fewer calories than regular sugar with no change in taste, mouthfeel, or texture, and no additions to the ingredients label, according to the firm.
“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,” said a company statement.
Incredo Sugar is made by binding cane or beet sugar with trace amounts of a natural carrier to aid in the delivery of sugar molecules to sweet taste receptors on the tongue. ‘“his means that less sugar is required for the same level of sweetness,” added the business.
With reduced sugar content, the product can help fight the overconsumption of sugar. Incredo stated that two-thirds of UK adults are now overweight or obese, costing the UK economy £27bn a year. A Healthier Bakery Fund was recently launched in Scotland to help bakers initiative projects including those that reduce sugar in products.
There are also sustainability benefits. “Swapping to Incredo could reduce the environmental impact of the sugar industry significantly, including growing the sugarcane or beet, the size of refineries, the transportation of millions of tonnes of sugar and warehousing,” noted the company.
The $30m raised in a Series C funding round brings total investment in Incredo to $60m. This will be spent on furthering research and development, integrating the product in a variety of applications, and accelerating its strategic commercial partnerships, including with chocolate and confectionery giant Ferrero.
Following recent rebranding, Incredo is the new name of DouxMatok, which was founded in 2014 and has its headquarters and R&D centre based in Israel.
“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 commercialisation,” said Incredo CEO Ari Melamud.