MeliBio Secures Strategic Investment to Scale Vegan Honey Production

MeliBio, a California-based food tech startup, has received strategic investment as part of a pre-Series A funding round to expand its vegan honey production. The investment comes from Japan’s Future Food Fund by Oisix, raising MeliBio’s total funding to approximately $10 million since its inception in 2020, according to CEO and co-founder Darko Mandich.

Initially planning a Series A round for 2023, the company shifted its focus to pre-Series A due to challenges in the food tech market, where investment dropped by 61% last year. MeliBio now plans to reopen its Series A round in 2024.

MeliBio’s product, Mellody, a precision-fermented honey, has gained traction across the U.S. The company initially launched the product through foodservice partners and later expanded to direct-to-consumer sales via Eleven Madison Park’s online store. Mellody is now available nationwide at independent retailers and a growing number of restaurants, including Palmetto Superfoods, Joyride Pizza, and Moto Pizza. Distribution has expanded through major partners such as KeHE, UNFI, and ACE Natural.

MeliBio’s product differentiates itself from other vegan honey alternatives by replicating the composition of honey using a combination of fructose, glucose, plant extracts, and natural flavors. The company aims to address the biodiversity impact of honeybee farming, which has contributed to the decline of wild bee populations, vital pollinators for maintaining ecosystems.

In addition to its U.S. presence, MeliBio has entered the European market through a partnership with Slovenia’s Narayan Foods. It has also secured a four-year, $10 million deal to distribute its vegan honey to 75,000 stores, including private label products for Aldi in the UK.

MeliBio continues to advance its precision fermentation capabilities, a technology that allows bioidentical production of animal-derived products like honey. The company has achieved significant progress, increasing the titer of its main enzyme target by 1,300%, and is working on scaling up its operations with the support of biomanufacturing partner Pow.Bio.

This recent investment supports MeliBio’s broader mission of transforming the honey industry while promoting biodiversity and environmental sustainability.