In Israel Pluri Inc., a biotechnology company specializing in cell-based solutions, has received a strategic private investment of $6.5 million, led by global investor Alejandro Weinstein, who will also join the company’s Board of Directors. This investment is part of a broader strategy to enhance Pluri’s position in sustainable food technologies.
In conjunction with the investment, Pluri is set to acquire approximately 71% of Kokomodo Ltd., an AgTech company focused on cultivated cacao production, for $4.5 million, which will be paid in Pluri’s common shares.
The acquisition will allow Pluri to leverage its innovative cellular agriculture technology to produce climate-resilient cacao.
The transactions are subject to regulatory approvals from the European Investment Bank, Nasdaq, and the Tel Aviv Stock Exchange, as well as the approval of Pluri’s shareholders.