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Pluri Secures $6.5 Million Investment and Acquires Majority Stake in Cell-Based Cacao Producer Kokomodo

Biotechnology firm Pluri Inc., a company specializing in cell-based technology, has announced a $6.5 million private investment led by global investor Alejandro Weinstein. As part of the transaction, Weinstein will join Pluri’s Board of Directors. Concurrently, the company is acquiring a 71% stake in Israeli AgTech firm Kokomodo Ltd., which focuses on cultivated cacao production, for $4.5 million in common shares. The proceeds from the investment will be used to bolster Pluri’s working capital and further its efforts in cell-based technology development.

“Sustainable and scalable food production is a global priority”

Simultaneously, Pluri will acquire Kokomodo Ltd. by purchasing a 71% stake from Chutzpah Holdings Ltd. and Plantae Ltd., both controlled by Weinstein. The acquisition, valued at $4.5 million, will be settled in 976,139 Pluri common shares. The deal positions Pluri to expand its reach into the growing market for sustainable cacao alternatives, which aligns with its broader focus on cell-based food technologies, including its existing subsidiaries Ever After Foods and Coffeesai.

“At Pluri, we are committed to pioneering sustainable and impactful solutions for the food industry. We believe that the synergy between Kokomodo’s advancements in cell line development and Pluri’s industrial-scale production creates a strong foundation for innovation, positioning the company to lead the field of cultivated cacao and set new benchmarks in cultivated cacao technologies,” said Yaky Yanay, CEO and president of Pluri.

Pluri
© Pluri

The acquisition of Kokomodo reflects Pluri’s commitment to diversifying its portfolio within sustainable food production, leveraging its proprietary cell-based technology platform. According to Grand View Research, the global cacao market was valued at $13.5 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.2%, reaching $23.5 billion by 2030.

Regulatory and shareholder approvals

Both the $6.5 million investment and the Kokomodo acquisition are subject to regulatory approvals, including those from the European Investment Bank, Nasdaq, and the Tel Aviv Stock Exchange, as well as shareholder approval. The Kokomodo transaction is expected to close in the second quarter of 2025, subject to due diligence and other customary closing conditions.

Weinstein’s appointment to the Board of Directors is contingent on maintaining at least a 10% ownership of Pluri’s common shares. A veteran investor and entrepreneur, Weinstein previously led CFR Pharmaceuticals S.A. to a $3.2 billion acquisition by Abbott Laboratories in 2014.

He commented on the partnership, stating, “Pluri has already demonstrated the great potential of cell-based technologies to drive innovation forward in both the regenerative medicine and AgTech space. I welcome the opportunity to contribute to Pluri’s growth as I believe that sustainable and scalable food production is a global priority. I believe that these Transactions mark the beginning of a powerful partnership.”

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