In Israel, cell cultured cocoa startup Celleste Bio has raised $4.5 million in a seed funding round. The funds will boost the company’s research and development, infrastructure, and technological capabilities as it works to achieve commercial scale.
According to vegconomist, Celleste Bio aims to create a sustainable supply of cacao though plant-cell cultivation and AI. The approach allows for indoor cultivation of cocoa in bioreactors, independent of climate conditions. The process requires only one cocoa pod to produce one ton of cocoa butter, significantly reducing the need for traditional farming.
“Climate change and conventional farming practices are depleting our rainforests, leading to significant environmental and financial challenges in meeting the demands of the $100 billion chocolate industry,” Michal Beressi Golomb, CEO of Celleste Bio.
Supply Change Capital led the round, with participation from Mondelēz International’s venture capital arm, SnackFutures Ventures, along with Consensus Business Group, Barrel Venture Partners, The Trendlines Group, and Regba Agriculture.