Key Takeaways
- Celleste Bio, a cocoa-tech startup, has closed a $4.5M seed funding round led by Supply Change Capital, with participation from MondelÄ“z International’s SnackFutures Ventures, Consensus Business Group, The Trendlines Group, Barrel Ventures, and Regba Agriculture.
- Funding will be used to advance R&D, expand infrastructure, and scale the production of cell-cultured cocoa ingredients.
- Celleste leverages AgTech, BioTech, and AI models to produce natural cocoa under controlled conditions, addressing supply chain challenges caused by climate change and traditional farming practices.
- The technology aims to close the supply-demand gap in the $100 billion chocolate industry.
Addressing Cocoa Industry Challenges
Founded in 2022, Celleste Bio aims to meet the rising demand for chocolate while addressing environmental and supply chain challenges exacerbated by:
- Climate change, which is depleting rainforests and impacting cocoa yields.
- Outdated farming practices that struggle to meet the needs of a growing market.
Celleste’s approach involves growing cocoa from minimal beans in optimized, controlled environments, ensuring year-round production while reducing environmental impact.
Leadership Perspectives
Michal Beressi Golomb, CEO of Celleste Bio: “Climate change and conventional farming practices are depleting our rainforests – resulting in unprecedented environmental and financial challenges to grow enough cocoa to meet the needs of a $100 billion chocolate industry. This round provides us with the financial and strategic support we need to accelerate product development, scalability, and commercial readiness.”
Shayna Harris, Co-Founder and Managing Partner at Supply Change Capital: “Climate change is significantly impacting cocoa supplies, with prices reaching four times their historic highs this year, underscoring the urgent need for sustainable solutions. As the chocolate industry grows over 10% annually, the supply-demand gap is widening. We see this as a pivotal moment for advancements in cellular agriculture and are proud to support Celleste as it leads the way in pioneering innovative, sustainable cocoa solutions.”
Richie Gray, VP, Global Head of MondelÄ“z International’s SnackFutures Ventures: “As one of the world’s largest chocolate producers, we are acutely aware of cocoa supply chain challenges. While still in its early stages, Celleste has great promise as a complementary technology to traditional farming practices. Combining Celleste’s technology with our unmatched capability and expertise will push the boundaries of what’s possible in building the cocoa supply chain of the future.”
Dr. Nitza Kardish, CEO of The Trendlines Agrifood Fund: “We have yet to feel the full scope and impact of climate change on how we grow and produce the world’s food supply. That is why Trendlines is focused on finding and growing companies like Celleste that are pioneering technologies that can be applied and scaled to many critical crops in the future.”
Scaling Innovative Solutions
This funding will bolster Celleste’s development of its cell-cultured cocoa technology, which:
- Provides a sustainable, year-round alternative to traditional cocoa farming.
- Uses significantly fewer natural resources, helping mitigate the environmental challenges associated with cocoa production.
- Addresses supply shortages in the rapidly growing chocolate industry, which is expected to expand over 10% annually.