Plant-based honey producer MeliBio has announced a $2.2 million investment, bringing the company’s total funding to date to $9.4 million.
The capital came from existing backers, including Collaborative Fund and Siddhi Capital, as well as new investor The Greenbaum Foundation, which is led by Jim Greenbaum, executive producer of ‘The Game Changers’ and ‘Seaspiracy’.
MeliBio was founded in 2020 by scientist Aaron Schaller and honey industry executive Darko Mandich.
The company’s plant-based product aims to address issues involved in commercial honey production, such as the use of pesticides and adulterants, and is said to perform and taste just like its conventional counterpart.
Collaborative Fund founder Craig Shapiro, who recently joined MeliBio’s board, said: “The conventional honey industry is not sustainable. Bee populations have seen steep declines, threatening to damage our broader food and agricultural systems.
“We were thrilled to meet Darko and the team, who have created a product that is simultaneously healthier, more delicious and sustainable. We love backing teams creating products that make the right choice the easy choice.”
MeliBio CEO and co-founder, Mandich, added: “We are thankful to our investors for recognising the progress our team has made and for providing the additional capital to scale our company”.
The business is partnering with organic food producer, Narayan Foods, to introduce its plant-based honey to European stores, with the rollout expected to begin in the first quarter of 2023. Products will be sold under Narayan’s Better Foodie brand.
© FoodBev Media Ltd 2024
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