Nukoko's founders

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Sweets & Snacks

Döhler Invests in Nukoko to Scale “World’s First” Cocoa-Free Chocolate From Fava Beans

Döhler, one of the world’s leading ingredients companies, recently announced an investment and strategic partnership with the UK-based startup Nukoko to scale the production of the “world’s first” cocoa-free chocolate from fava beans. The partnership aims to address challenges in the cocoa industry, from rising prices (89% in 2023) driven by climate change and declining yields to environmental impact and socio-economic issues, by offering a “delicious” and sustainable alternative to chocolate. With Döhler’s support, Nukoko will transition from pilot-scale to industrial-scale production by 2025, utilising 10,000-litre fermentation batches to increase output efficiently. In addition, Döhler’s expertise in regulatory processes and food safety will aid Nukoko as it prepares to launch its product. Rodrigo Hortega de Velasco, representing Döhler Ventures, shared: “Nukoko’s technology presents a groundbreaking …

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Nukoko raises funding to scale cocoa-free chocolate

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Investments & Acquisitions

Nukoko Raises $1.5M to Scale “World’s First” Cocoa-Free Chocolate Made From Fava Beans

UK-based company Nukoko has raised $1.5 million in seed funding to scale up its technology to produce cocoa-free chocolate from fava beans. The round was led by Oyster Bay Venture Capital, with participation from SOSV and The Mills Fabrica alongside a grant from Innovate UK. Due to climate change, cocoa has seen a supply deficit in recent years, causing prices to rise by a huge 89% in 2023 and double again in the first months of 2024. Cocoa production is also associated with deforestation and significant carbon emissions. Nukoko claims to have developed the first chocolate made from fava beans, a nitrogen-fixing crop that can be grown within the UK. Using a fermentation process similar to traditional cocoa fermentation, the company transforms the beans into …

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