Pluri Inc. acquires Kokomodo for US$$4.5M expanding into cacao industry

ISRAEL – Pluri Inc., a leading biotechnology company for cell-based solutions, has announced the completion of acquiring approximately 71% Kokomodo Ltd for US$4.5 million, expanding into the cacao market.

Pluri stated that Kokomodo will continue to operate as an independent company and a subsidiary of Pluri, maintaining its mission, team, and brand identity under the leadership of its Co-Founder and Chief Executive Officer, Tal Govrin.

By combining its proven expertise in scalable and cost-effective cell production with Kokomodo’s innovative approach to cultivated cacao, the company believes that the acquisition will address growing concerns about climate change impacts on traditional cacao farming, while meeting increasing consumer demand for sustainable cacao-based products.

Yaky Yanay, Chief Executive Officer and President of Pluri, said, “At Pluri, we are committed to pioneering sustainable solutions that address critical challenges in the global food industry. With the closing of this strategic acquisition, we believe that we are uniquely positioned to lead innovation in the cultivated cacao sector.”

According to Grand View Research, the global cacao market was valued at US$13.5 billion in 2023 and is expected to grow at a CAGR of 8.2% to US$23.5 billion by 2030.

Pluri secures US$3.5M in private placement 

Recently, the company secured US$3.5 million through a private placement as it continues to strengthen its position in the cell-based technology sector.

The investment comes from Merchant Adventure Fund, a long-term shareholder, and follows a previous US$6.5 million placement led by global investor Alejandro Weinstein.

With these two transactions, the company has secured US$10 million in recent funding.

The latest private placement is expected to close on or around February 20, 2025, pending regulatory approvals and other closing conditions.

As part of the agreement, Pluri will issue 759,219 shares at US$4.61 per share and grant warrants for an additional 45,553 shares at an exercise price of US$5.568.

Pluri plans to use the capital to advance its work in pharmaceuticals, food technology, and agriculture, areas where cell-based solutions are gaining traction.

CEO Yaky Yanay said the investment reflects continued confidence from shareholders in the company’s direction and execution capabilities.

Pluri is focusing on its proprietary 3D cell expansion technology, which allows for scalable and cost-effective production of cell-based products.

The company aims to use this platform to address food security, sustainability concerns, and advancements in regenerative medicine.

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