Nukoko, a promising UK start-up specializing in cocoa-free chocolate crafted from fava beans, has recently secured investment from Döhler, a prominent German ingredients company. This partnership is deemed a “strategic collaboration,” although specific details regarding the monetary support or equity stake in Nukoko have not been disclosed. Founded in 2022 by three entrepreneurs, Nukoko aims to disrupt the food and beverage industry with its innovative approach.
Earlier this year, Nukoko successfully raised $1.5 million in seed funding from a consortium of investors, including Mills Fabrica, SOSV, and Oyster Bay Venture Capital. This new investment comes from Döhler’s venture capital division, Döhler Ventures.
Describing itself as a “climate-tech” enterprise, Nukoko utilizes a unique fermentation process to produce its cocoa-free chocolate from fava beans. In a statement highlighting the funding announcement, Nukoko elaborated, “Nukoko’s unique process transforms fava beans into a sustainable chocolate alternative, addressing critical issues in the chocolate industry, including rising cocoa prices, environmental impact, and socio-economic concerns surrounding cocoa production.” The partnership with Döhler is expected to facilitate the scaling of this innovative fermentation process to an industrial level by 2025.
The company has yet to introduce its cocoa-free chocolate products to the market.
Döhler representatives noted that this collaboration signifies a pivotal moment in the evolution of chocolate manufacturing. As part of their strategy, Nukoko is currently working on securing a patent for their fermentation technology, with claims indicating that their process may reduce emissions by as much as 90% compared to traditional cocoa production.
Leading the charge at Nukoko is CEO Ross Newton, one of the co-founders, alongside entrepreneur Kit Tomlinson and cocoa research scientist Professor David Salt. Newton expressed enthusiasm about the partnership, stating, “We are excited by our collaboration with Döhler, one of the world’s leading fermentation experts. Their support is crucial in helping us achieve industrial-scale production and bring our revolutionary chocolate alternative to market.”
Nukoko’s cocoa-free chocolate not only addresses emission concerns but also boasts 40% less sugar than conventional variants. Furthermore, these products are enhanced with higher protein, fiber, and antioxidant levels.
The company underscores additional social and environmental benefits: “Cocoa production has long been associated with deforestation, child labor, and high carbon emissions, ranking among the top five food sources contributing to CO2 emissions.” By utilizing a domestically grown, nitrogen-fixing crop, Nukoko’s fava bean-based chocolate aims to mitigate these issues while promoting soil health and decreasing the dependency on fertilizers.
Rodrigo Hortega de Velasco, head of investments at Döhler Ventures, remarked, “Nukoko’s technology presents a groundbreaking solution for the food and beverage industry. We are proud to support the scale-up of their cocoa-free chocolate, which aligns with our mission to drive sustainable food innovations.”
This partnership against the backdrop of evolving food and drink consumer trends is increasingly relevant as stakeholders seek to address sustainability challenges within the food and beverage industry. The development of innovative products like Nukoko’s chocolate will undoubtedly capture the attention of both consumers and investors alike.
In conclusion, the future of Nukoko appears promising, with its cocoa-free chocolate solution poised to meet the demands of a changing marketplace while adhering to sustainable practices that resonate with modern consumers.
