The seed funding round was led by iAngels, Israel with additional participation from Maverick Ventures, Israel; Food Tech Lab TFTL, Spain; The Kitchen Hub, Israel, as part of the Strauss Group and IIA; NEOME, Israel; Schestowitz Group, Israel; and Semillero, Puerto Rico.
Blachinsky, who developed Better Juice's sugar reduction technology as a way to help his diabetic father safely enjoy juice and other juice-based products such as jams and marmalade, said the funding will allow the company to drastically increase production capacity in order to serve more customers.
Better Juice, which currently has 100% of its operations in Israel, said the funding will allow it to increase production capacity 40x while generating up to $50m in sales annually.
The company will use the funds to expand its sales and marketing teams to support and accelerate further commercialization of the technology, which can be fitted into a company's existing production line.
"There is a significant need in the beverage industry to effectively reduce sugar and we anticipate bringing our solution to market in just a few months," said Gali Yarom, co-founder, COO, and VP of business development for Better Juice.
US market focus
The company's focus is on the US market, where regulations are a bit easier to navigate compared to other regions such as the EU, according to Blachinsky, who added that the company is currently awaiting a GRAS no objections letter from the FDA for its technology.
He added that the company made its first sale to a US beverage manufacturer, of which he could not disclose any further details, but said it wouldn't be long until products using Better Juice technology hit the market in the US where consumer interest in sugar reduction is higher than in many other international markets.
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Better Juice ramps up plans for US market entry of enzymatic sugar reduction technology - FoodNavigator-USA.com
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