Pluri's Bold Leap into Sustainable Chocolate: A Game Changer for the Food Industry
January 28, 2025, 3:32 am
Grand View Research
Location: United States, California, San Francisco
Employees: 501-1000
Founded date: 2014
Location: Israel, Haifa District, Haifa
Employees: 51-200
Founded date: 2003
Total raised: $6.5M
In a world where sustainability is the new gold standard, Pluri Inc. is making waves. The Israeli biotechnology firm has secured a $6.5 million investment and is acquiring a majority stake in Kokomodo, a company specializing in cell-based cacao production. This strategic move positions Pluri at the forefront of the burgeoning market for sustainable food alternatives.
Pluri, based in Haifa, has a history steeped in innovation. Originally focused on stem cell therapy, the company has pivoted to address the pressing challenges of food production. With the acquisition of Kokomodo, Pluri is not just diversifying its portfolio; it’s stepping into the sweet realm of chocolate. This acquisition is more than a business deal; it’s a commitment to a sustainable future.
The investment comes from Alejandro Weinstein, a seasoned investor with a keen eye for potential. His involvement is not just financial; he will join Pluri’s Board of Directors, bringing a wealth of experience. The deal includes purchasing a 71% stake in Kokomodo for $4.5 million, paid in common shares. This partnership aims to leverage Kokomodo’s cell line development expertise alongside Pluri’s industrial-scale production capabilities.
The global cacao market is a giant, valued at $13.5 billion in 2023 and projected to grow significantly. Yet, the traditional cacao industry faces immense challenges. Deforestation, climate change, and unsustainable farming practices threaten its future. A bar of chocolate requires an astonishing 1,700 liters of water to produce. The stakes are high, and the need for innovative solutions is urgent.
Kokomodo emerged from stealth mode last summer, securing initial funding to develop cell-cultured cocoa. The startup uses cells from premium cocoa beans sourced from Central and South America. Their goal? To create a sustainable chocolate alternative that could revolutionize the industry. With Pluri’s backing, Kokomodo is poised to scale its operations and bring its products to market.
This acquisition is a response to a growing demand for sustainable food technologies. Consumers are increasingly aware of the environmental impact of their choices. They want products that align with their values. Pluri’s entry into the cell-based chocolate market is a timely move, addressing both consumer demand and environmental concerns.
The deal is not without its hurdles. Regulatory approvals are necessary from various bodies, including the European Investment Bank and Nasdaq. However, the anticipated closing in the second quarter of 2025 suggests that Pluri is moving swiftly to solidify its position in this new market.
Pluri’s CEO, Yaky Yanay, emphasizes the synergy between Kokomodo’s innovations and Pluri’s production capabilities. This partnership aims to set new benchmarks in cultivated cacao technologies. The goal is clear: to lead the field of sustainable chocolate production.
The implications of this acquisition extend beyond business. It represents a shift in how we think about food production. As climate change continues to threaten traditional agriculture, innovative solutions like cell-based technologies offer a lifeline. They promise to reduce the environmental footprint of food production while meeting the needs of a growing global population.
The chocolate industry is at a crossroads. With rising prices and dwindling cocoa stocks, the urgency for sustainable alternatives has never been greater. If current trends continue, a third of the world’s cocoa trees could perish by 2050. Pluri and Kokomodo are stepping into this void, offering a glimmer of hope.
Other companies are also exploring this space. Startups like Food Brewer and California Cultured are developing their own cell-based chocolate solutions. Meanwhile, firms like Voyage Foods are creating cocoa-free alternatives. The competition is heating up, but Pluri’s established reputation and resources give it a significant advantage.
As Pluri embarks on this new journey, it’s not just about chocolate. It’s about redefining food production for a sustainable future. The partnership with Kokomodo could serve as a blueprint for other companies looking to innovate in the food sector. It’s a call to action for the industry to embrace change and prioritize sustainability.
In conclusion, Pluri’s acquisition of Kokomodo is a bold step into the future of food. It reflects a growing recognition that sustainable practices are not just beneficial; they are essential. As the world grapples with climate change and resource scarcity, innovations like cell-based chocolate could pave the way for a more sustainable and equitable food system. The sweet taste of success may be just around the corner, and Pluri is leading the charge.
Pluri, based in Haifa, has a history steeped in innovation. Originally focused on stem cell therapy, the company has pivoted to address the pressing challenges of food production. With the acquisition of Kokomodo, Pluri is not just diversifying its portfolio; it’s stepping into the sweet realm of chocolate. This acquisition is more than a business deal; it’s a commitment to a sustainable future.
The investment comes from Alejandro Weinstein, a seasoned investor with a keen eye for potential. His involvement is not just financial; he will join Pluri’s Board of Directors, bringing a wealth of experience. The deal includes purchasing a 71% stake in Kokomodo for $4.5 million, paid in common shares. This partnership aims to leverage Kokomodo’s cell line development expertise alongside Pluri’s industrial-scale production capabilities.
The global cacao market is a giant, valued at $13.5 billion in 2023 and projected to grow significantly. Yet, the traditional cacao industry faces immense challenges. Deforestation, climate change, and unsustainable farming practices threaten its future. A bar of chocolate requires an astonishing 1,700 liters of water to produce. The stakes are high, and the need for innovative solutions is urgent.
Kokomodo emerged from stealth mode last summer, securing initial funding to develop cell-cultured cocoa. The startup uses cells from premium cocoa beans sourced from Central and South America. Their goal? To create a sustainable chocolate alternative that could revolutionize the industry. With Pluri’s backing, Kokomodo is poised to scale its operations and bring its products to market.
This acquisition is a response to a growing demand for sustainable food technologies. Consumers are increasingly aware of the environmental impact of their choices. They want products that align with their values. Pluri’s entry into the cell-based chocolate market is a timely move, addressing both consumer demand and environmental concerns.
The deal is not without its hurdles. Regulatory approvals are necessary from various bodies, including the European Investment Bank and Nasdaq. However, the anticipated closing in the second quarter of 2025 suggests that Pluri is moving swiftly to solidify its position in this new market.
Pluri’s CEO, Yaky Yanay, emphasizes the synergy between Kokomodo’s innovations and Pluri’s production capabilities. This partnership aims to set new benchmarks in cultivated cacao technologies. The goal is clear: to lead the field of sustainable chocolate production.
The implications of this acquisition extend beyond business. It represents a shift in how we think about food production. As climate change continues to threaten traditional agriculture, innovative solutions like cell-based technologies offer a lifeline. They promise to reduce the environmental footprint of food production while meeting the needs of a growing global population.
The chocolate industry is at a crossroads. With rising prices and dwindling cocoa stocks, the urgency for sustainable alternatives has never been greater. If current trends continue, a third of the world’s cocoa trees could perish by 2050. Pluri and Kokomodo are stepping into this void, offering a glimmer of hope.
Other companies are also exploring this space. Startups like Food Brewer and California Cultured are developing their own cell-based chocolate solutions. Meanwhile, firms like Voyage Foods are creating cocoa-free alternatives. The competition is heating up, but Pluri’s established reputation and resources give it a significant advantage.
As Pluri embarks on this new journey, it’s not just about chocolate. It’s about redefining food production for a sustainable future. The partnership with Kokomodo could serve as a blueprint for other companies looking to innovate in the food sector. It’s a call to action for the industry to embrace change and prioritize sustainability.
In conclusion, Pluri’s acquisition of Kokomodo is a bold step into the future of food. It reflects a growing recognition that sustainable practices are not just beneficial; they are essential. As the world grapples with climate change and resource scarcity, innovations like cell-based chocolate could pave the way for a more sustainable and equitable food system. The sweet taste of success may be just around the corner, and Pluri is leading the charge.