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Pluri has completed the acquisition of a 71% stake in Kokomodo, an agri-food-tech company specialising in the production of cultivated cocoa. The transaction, valued at $4.5 million and executed through the issuance of 976,139 common shares, positions Pluri to leverage Kokomodo’s innovative cellular agriculture technology to address sustainability challenges in cacao production.

Kokomodo, which will continue to operate independently under the leadership of co-founder and CEO Tal Govrin, focuses on developing climate-resilient cacao through cellular techniques. This acquisition aims to enhance Pluri's capabilities in scalable cell production while expanding Kokomodo's reach in the global market.

"The collaboration with Pluri represents a strategic alignment that will accelerate our production capabilities and global expansion," said Govrin. "By integrating our expertise in cultivated cacao with Pluri's established technology, we are poised to redefine the cocoa industry, offering sustainable and consistent products."

Yaky Yanay, CEO and president of Pluri, highlighted the company's commitment to sustainable food solutions. "This acquisition allows us to lead innovation in the cultivated cacao sector, addressing both climate change and the rising consumer demand for sustainable products," commented. "Our combined strengths can significantly impact the cacao market, which is projected to grow from $13.5 billion in 2023 to $23.5 billion by 2030, according to Grand View Research."

Kokomodo's approach to cocoa production involves cultivating cacao directly from plant cells, preserving the flavour and nutritional qualities while minimising the environmental and ethical challenges associated with traditional farming methods. This methodology not only supports the chocolate industry but also opens avenues for functional ingredients and wellness products.