Israeli foodtech startup Better Juice raises $8m in seed funding
Israeli foodtech startup Better Juice, the first company to reduce all sugars from natural juices, announced it has raised $8 million in seed-round investment. This new influx of support was led by iAngels, Israel and includes investors: 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.
The startup's enzymatic technology uses all-natural ingredients to convert fructose, glucose, and sucrose into prebiotic dietary fibers and other non-digestible molecules. Reducing up to 80% of all sugars, Better Juice's non-GMO technology is designed to target orange juice's specific sugar composition to naturally create a low-calorie, reduced-sugar product with a delicate sweetness. Better Juice opened a pilot plant in January 2021, an important milestone in the startup's commercial scale-up timeline.
Mor Assia, CEO and Founding Partner, iAngels: "We strongly believe in Better Juice's outstanding technology to lead the sugar reduction revolution in natural juices. Better Juice's know-how and technology is perfectly in-line with our portfolio and vision of future, advanced impact technologies. The company has created exceptional partnerships with leading beverage companies and is paving the way to better-for-you products."
Better Juice will use the investment to build its first full-scale manufacturing plant in Israel to serve the growing demand. The high-tech plant will increase production capacity by 40-fold while generating up to $50 million sales annually. The company will use the funds to expand the sales and marketing teams to support its commercialization stage.
Eran Blachinsky, Founder and CEO, Better Juice; "We are excited to complete this investment round with the support of leading venture capital and CPG companies from around the globe. This investment will enable us to accelerate our growth and expand into other product lines, such as ice cream, soft drinks, and jam."
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