Win-Win secures US$4M to scale cocoa-free chocolate across Europe

UK – Win-Win, a cocoa-free chocolate alternative innovator, has raised £3 million (US$4 million) in a Series A funding round, bringing the company’s total funding to £8 million (US$10 million).

Win-Win aims to accelerate its growth in the UK and across key European markets, strengthen its team, develop new product lines, and expand its distribution.

Launched in 2021, the company aims to reset the chocolate industry by bypassing the environmental and ethical challenges associated with solely relying on the traditional cocoa value chain. 

It integrates conventional methods with innovative fermentation technology, starting with ingredients other than cocoa beans. 

Mark Golder, CEO of Win-Win, explains that while consumer demand for chocolate remains strong, current production practices are increasingly unsustainable. He pointed to climate change as a key factor driving reduced cacao yields, which in turn lead to price surges and ongoing supply-chain instability. 

The effects are already being felt by consumers, who are seeing the impact in the form of rising prices and “shrinkflation” on store shelves.

“The industry is at an inflection point and needs alternative solutions that are stable and more environmentally and socially sustainable,” he said

Win-Win’s products use up to 80 per cent less water, emit 82 per cent fewer CO2e emissions, and are produced at scale in the UK. The products look, melt, taste and snap just like chocolate. 

They can be used as a direct replacement for chocolate when making the sweet treats we all love, such as pastries, cakes, cookies, coatings, doughnuts, desserts, and more.

“We’re delighted to conclude this funding round, which provides us with extra resources to continue on our mission and deliver a sustainable and affordable alternative to chocolate. We’re grateful that industry specialists such as Oetker recognise the need and opportunity, and have chosen Win-Win for their investment,” Golder added.

The round attracted investors such as the Oetker Collection, Foodlabs, Mustard Seed Maze, Gota Ventures, Paulig, and Kapital.

Affirming the transformative potential of Win-Win, Sven Wiszniewski of Oetker Collection KG described the company’s approach to reimagining ingredients like chocolate as 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,” Sven stated.

Win-Win has also recently announced a major distribution partnership in the DACH region with Martin Braun Backmittel und Essenzen KG, a subsidiary of Martin Braun-Gruppe. 

Win-Win is the first cocoa-free alternative to chocolate in the Martin Braun-Gruppe portfolio, providing customers with two of Win-Win’s award-winning products: Win-Win vegan ‘M.lk’ and Win-Win dark cocoa-free chocolate alternatives.

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