Mondelēz International Invests in Cocoa-Tech CompanyMondelēz International Invests in Cocoa-Tech Company

WIth support from Supply Change Capital, with participation from Mondelēz International’s SnackFutures Ventures, Consensus Business Group, The Trendlines Group, Barrel Ventures, and Regba Agriculture, Celleste Bio has closed a $4.5M seed financing round. An early-stage cocoa-tech company, Celleste will use the funding to accelerate R&D, infrastructure, and technological capabilities needed to pilot and scale production of its cell-cultured cocoa ingredients.

“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 $100B – 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.”

Celleste Bio was founded in 2022 to meet the world’s rising demand for chocolate in the face of supply chain challenges created by climate change and outdated, conventional farming practices. Celleste uses a combination of AgTech, BioTech, and AI computational models to grow 100% natural cocoa from one or two beans in optimal, controlled conditions, year-round.

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“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,” says Richie Gray, VP, global head of Mondelēz 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.”