Celleste Bio Closes $4.5M Seed Round to Lead Cocoa-Tech Innovation
Deal News | Dec 05, 2024 | Trendlines Group Ltd/The
Celleste Bio, a pioneering company in cocoa technology, has successfully closed a $4.5 million seed funding round. The round was led by Supply Change Capital, with contributions from Mondelēz International's SnackFutures Ventures, Consensus Business Group, The Trendlines Group, Barrel Ventures, and Regba Agriculture. Utilizing advanced AgTech, BioTech, and AI technologies, Celleste Bio aims to address challenges in cocoa supply exacerbated by climate change and outdated farming methods. The funding will enable Celleste to enhance its R&D, infrastructure, and technological capabilities to scale up the production of cell-cultured cocoa, providing a sustainable alternative for the growing $100 billion chocolate industry. Leaders from Supply Change Capital and Mondelēz highlight the strategic importance of Celleste's innovative solutions in building a sustainable cocoa supply chain.
Sectors
- AgTech
- BioTech
- Food and Beverage
Geography
- Global – Climate change affecting cocoa supply is a global issue, impacting the international chocolate industry.
Industry
- AgTech – Celleste Bio utilizes agricultural technology to optimize cocoa production, addressing environmental challenges and supply chain constraints.
- BioTech – The company applies biotechnology to enhance cell-culturing methods for sustainable cocoa production.
- Food and Beverage – The chocolate industry, a significant part of the food and beverage sector, drives the demand for innovative cocoa production technologies.
Financials
- $4.5M – Seed funding raised by Celleste Bio to develop and scale its cell-cultured cocoa production.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Celleste Bio | Target Company | Company | An early-stage cocoa-tech company focusing on cell-cultured cocoa production. |
| Supply Change Capital | Lead Investor | Company | An early-stage firm investing in technologies transforming the food system. |
| Mondelēz International's SnackFutures Ventures | Investor | Company | The corporate venture capital arm of Mondelēz International, investing in innovative snack solutions. |
| The Trendlines Group Ltd/The | Investor | Company | An investment firm that supports technology ventures in the agricultural and healthcare sectors. |
| Consensus Business Group | Investor | Company | A business investment group participating in the funding round. |
| Barrel Ventures | Investor | Company | A venture capital firm supporting early-stage companies. |
| Regba Agriculture | Investor | Company | An agriculture-focused investment group involved in the seed round. |