Israel-based start-up Kokomodo has received a $750,000 investment from The Kitchen FoodTech Hub and the Israeli Innovation Authority.
The company has come out of stealth to develop cell-based cocoa for the F&B, supplements and cosmetics industries.
Kokomodo creates its products from the cells of premium cocoa beans grown in Central and South America. Having successfully completed lab-scale production, the company plans to use the funding to expand to pilot scale, using its bioprocessing systems to get closer to price parity with conventional chocolate.
The company will also use the funding to enhance client engagement, widening its range of products and for regulations and IP submissions.
Kokomodo expects to produce hundreds of litres of its cocoa product in bioreactors within the next 18-24 months, working towards reaching commercial scale.
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