Celleste Bio Secures $4.5M Seed Funding to Revolutionize Cocoa Production with Cell Culturing

Celleste Bio Secures $4.5M Seed Funding

Tel Aviv, Israel, and New York – In a significant boost for sustainable cocoa production, early-stage cocoa-tech company Celleste Bio has announced the successful closure of a $4.5 million seed financing round. This funding, primarily led by Supply Change Capital along with partners like Mondelēz International's SnackFutures Ventures, marks a pivotal step in the company's mission to enhance cocoa production through cutting-edge technology.

Founded in 2022, Celleste Bio aims to address the escalating global demand for chocolate, which is currently fueled by growing consumer appetites. However, conventional cocoa farming has been increasingly challenged by climate change—leading to supply chain disruptions and exorbitantly high cocoa prices. During this year alone, cocoa prices have skyrocketed to four times their historical averages, indicating an urgent need for innovative solutions within the industry. With funding earmarked for research and development, infrastructure upgrades, and capacity building, Celleste is poised to make meaningful strides.

"Climate change and outdated farming methods are severely straining cocoa production. With this investment, we will accelerate our progress in developing sustainable products that cater to the needs of the $100 billion and growing chocolate sector," expressed Michal Beressi Golomb, CEO of Celleste Bio. The company’s unique approach integrates Agricultural Technology (AgTech), Biotechnology (BioTech), and AI computational models to cultivate 100% natural cocoa from a minimal starting quantity of beans, all year round.

The funding round also saw participation from influential investors like Consensus Business Group, The Trendlines Group, Barrel Ventures, and Regba Agriculture—each bringing a wealth of experience and resources to back Celleste's ambitious goals. Shayna Harris, Co-Founder and Managing Partner at Supply Change Capital, emphasized the critical nature of this investment, stating, "As the chocolate industry expands over 10% annually, the gap between supply and demand is widening. It's vital for us to innovate in cellular agriculture, and we believe Celleste is at the forefront of this movement."

Furthering this vision, Richie Gray of Mondelēz International's SnackFutures Ventures highlighted the potential synergy between Celleste's technology and traditional cocoa farming practices. By leveraging Celleste’s advancements alongside Mondelēz’s vast expertise, together they could redefine the cocoa supply chain, ensuring a more sustainable future.

Celleste's disruptive approach has attracted attention not only as a novel method for cultivating cocoa but as a transformative model for the agriculture sector overall. Dr. Nitza Kardish, CEO of The Trendlines Agrifood fund, believes that climate challenges necessitate such pioneering solutions. "We haven’t even begun to realize the full repercussions of climate change on agricultural practices, making the work of companies like Celleste crucial for our global food systems," she remarked.

As Celleste Bio continues to develop its innovative cell-cultured cocoa ingredients, the industry eagerly watches for the tangible impacts these advancements could have on sustainability and food security. The seed funding will provide the necessary resources to navigate the next critical phases of development and commercial readiness.

For more information on Celleste Bio's groundbreaking work and technology, visit www.celleste-bio.com.