Plant-based honey co MeliBio aims for profitability by year end

MeliBio, a California startup producing bee-free honey, is targeting profitability by the end of 2024 as it expands its presence in the U.S. market. The company has increased its retail locations from 10 to 400 and aims for 1,500 to 2,000 to sustain growth. With honey sales in the U.S. exceeding $1 billion, MeliBio’s innovative approach addresses rising demand amid declining bee populations, presenting significant opportunities for agrifood innovators and investors.

Original excerpt: “By the end of 2024 we were actually under the price of American honey, which made our product relevant to a lot more customers,”…

Source: AgFunderNews