Consumer
Mondelez Sees a Future for Chocolate in Cultured Cocoa Startup
- The snacks company made its first investment in 2022
- Cost of traditional cocoa beans has doubled in the past year
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Mondelez International Inc., the maker of Toblerone and Milka chocolate bars, is putting more money behind cell-based cocoa, part of the snack company’s effort to address the unpredictable costs and supplies of cocoa beans.
This is Mondelez’s second time investing in Celleste Bio, an Israeli startup that uses cells extracted from cocoa plants and grown in bioreactors to produce cocoa butter and cocoa powder, which are necessary to make chocolate. Mondelez, which is making the investment through its SnackFutures Ventures arm, declined to share its financial stake.