TEL AVIV, NY — Celleste Bio, an early-stage cocoa-tech company, announced the closing of a $4.5 million seed financing round led by Supply Change Capital with participation from SnackFutures, the Mondelez International innovation and venture hub.
TEL AVIV, NY — Celleste Bio, an early-stage cocoa-tech company, announced the closing of a $4.5 million seed financing round led by Supply Change Capital with participation from SnackFutures, the Mondelez International innovation and venture hub.
“As one of the world’s largest chocolate producers, we are acutely aware of the supply chain challenges we need to overcome to produce our iconic chocolate brands — like Milka, Cadbury and Toblerone — while also having a positive impact on our business, consumers and the environment,” said Richie Gray, VP and global head of Mondelez International’s SnackFutures Ventures. “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.”
Celleste Bio will use the funding to accelerate R&D, technological capabilities, infrastructure and scale production of its cell-cultured cocoa ingredients. The company was founded in 2022 to help meet the growing demand for chocolate in the face of supply chain challenges created by climate change and outdated farming practices.
“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 — and growing — chocolate industry,” said Michal Beressi Golomb, CEO of Celleste Bio. “This round provides us with the financial and strategic support we need to accelerate product development, scalability and commercial readiness.”
