Pluri acquires majority stake in cultivated cacao specialist Kokomodo for US$4.5 million

Pluri Inc., a biotechnology company specializing in cell-based technologies, has completed the acquisition of a 71% stake in Kokomodo, an Israel-based AgFoodTech company focused on cultivated cacao production. The deal, valued at approximately US$4.5 million and paid in 976,139 Pluri common shares, was announced on 28 April.

Kokomodo will continue to operate independently under its current leadership, with Tal Govrin, Co-founder & Chief Executive Officer, remaining in place. The company will retain its brand identity while benefiting from integration into the Pluri network.

“We are incredibly excited to join forces with Pluri,” said Govrin. “Scaling breakthrough innovation in food requires both technological expertise and market reach. By teaming up with Pluri, we believe that we will gain the ability to accelerate our production capabilities, expand globally, and remain true to our founding mission.”

Yaky Yanay, Pluri President & Chief Executive Officer  said the acquisition strengthens the company's position in the emerging field of cultivated cacao, combining Kokomodo’s cell-based cacao development platform with Pluri’s scalable 3D cell expansion technology.

“With the closing of this strategic acquisition, we believe that we are uniquely positioned to lead innovation in the cultivated cacao sector,” Yanay said. “By combining Pluri’s proven expertise in scalable and cost-effective cell production with Kokomodo’s innovative approach to cultivated cacao, we believe that this acquisition can address growing concerns about climate change impacts on traditional cacao farming, while meeting increasing consumer demand for sustainable cacao-based products.”

Founded to address the environmental and supply chain challenges of traditional cacao farming, Kokomodo uses cellular agriculture technology to cultivate cacao directly from plant cells. Its method preserves the flavor, functionality, and nutritional qualities of conventional cacao while minimizing the need for extensive land use and reducing exposure to supply chain volatility.

The company maintains a diverse library of cacao cell lines and is developing tailored cacao ingredients for use across the chocolate, functional food, and wellness industries.

According to Grand View Research, the global cacao market was valued at approximately US$13.5 billion in 2023 and is expected to grow at a compound annual growth rate of 8.2% to reach around US$23.5 billion by 2030.

Pluri, headquartered in Haifa, Israel, operates across the regenerative medicine, food-tech, and agtech sectors. In addition to its in-house cell-based product development, the company provides contract development and manufacturing services, aiming to deploy its proprietary 3D cell-based expansion platform across multiple industries.

(Main picture shows CEO & Co-Founder Tal Govrin on the left and CTO Dario Breitel)