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Food-tech company Win-Win has successfully raised £3 million in a Series A funding round, marking a significant step in its mission to provide sustainable and ethical alternatives to traditional chocolate.

This funding round was led by the Oetker Collection and FoodLabs, bringing the company's total funding to £8 million to date.

The investment will primarily support Win-Win’s expansion efforts within the UK and into key European markets, including Germany, the Benelux region, the Nordics, France and Switzerland.

The company aims to enhance its product offerings and scale its operations, addressing the growing demand for environmentally friendly food products.

Win-Win has developed the UK’s first cocoa-free chocolate alternative, using sustainable ingredients such as rice and carob. Its product range includes various chocolate substitutes – White, Milk, Vegan M.lk and Dark couvertures – crafted through a reimagined fermentation process that mimics traditional chocolate-making techniques without relying on cocoa.

This innovation not only reduces the environmental impact of chocolate production but also offers manufacturers a viable alternative amid rising cocoa prices and supply chain uncertainties.

According to Win-Win, their products consume up to 80% less water and result in 82% fewer CO2 emissions compared to conventional chocolate. The company’s approach aims to tackle the pressing issues of deforestation and unsustainable agricultural practices associated with cocoa farming.

In addition to the funding announcement, Win-Win has secured a distribution partnership with Martin Braun-Gruppe, a major player in the DACH region (Germany, Austria and Switzerland). This partnership will introduce Win-Win's cocoa-free chocolate alternatives to a broader audience, further solidifying its position in the market.

Mark Golder, CEO of Win-Win, highlighted the importance of this funding round in advancing the company's mission to deliver sustainable food solutions.

“We all love chocolate, but the way it’s currently produced isn’t sustainable. Climate change is leading to reduced yields, causing spiralling prices and supply-chain uncertainty," he said. "As consumers, we’re already seeing the impact of this in the form of rising prices and shrinkflation, and the cacao industry continues to be troubled by issues relating to deforestation. The industry is at an inflection point and needs alternative solutions that are stable and more environmentally and socially sustainable."

Sven Wiszniewski from Oetker Collection added: “We’re big believers in the transformative potential of Win-Win. Their approach to reimagining ingredients like chocolate is not only groundbreaking from a scientific perspective, but also incredibly timely given the environmental and ethical challenges facing the industry. We’re proud to support a team that’s combining world-class innovation with real-world impact, and we look forward to backing their growth across the UK and Europe.”

Image credit: © Win-Win