Win-Win secures £3m to expand cocoa-free chocolate alternative in Europe

Credit: Win-Win

Sustainable chocolate alternative company Win-Win has secured £3 million in Series A funding to scale its cocoa-free products across the UK and Europe.

The London-based confectionery startup, backed by lead investors the Oetker Collection and FoodLabs, will use the funding to accelerate its UK presence, develop new product lines and expand into key European markets including Germany, France, the Nordics, Benelux and Switzerland.

The funding announcement follows a major distribution deal with German bakery supplier Martin Braun Backmittel und Essenzen KG. Through the Martin Braun-Gruppe portfolio, Win-Win has introduced two of its award-winning cocoa-free products into the Dach region, marking a first for the group and a major step for the cocoa-free category.

Win-Win has raised a total of £8 million to date, powering its mission to revolutionise chocolate. Its award-winning range including White, Milk, Vegan ‘M.lk’ and Dark is crafted from sustainable, abundant ingredients like rice and carob. Using a patented fermentation process, Win-Win recreates the rich flavours and textures of traditional chocolate through roasting, grinding, refining and tempering, all without a single cocoa bean.

Mark Golder, CEO of Win-Win said:

We’re delighted to conclude this funding round, which provides us with extra resources to continue on our mission, and deliver a sustainable and affordable alternative to chocolate. We’re grateful that industry specialists such as Oetker recognise the need and opportunity, and have chosen Win-Win for their investment.”

Win-Win’s products reportedly use up to 80 percent less water and generate 82 percent fewer CO2e emissions compared to conventional chocolate. They replicate the look, melt, taste and snap of traditional chocolate, enabling food manufacturers and service providers to replace chocolate in a variety of applications from pastries and cakes to coatings and desserts without compromising quality.

Golder explained the urgency behind the innovation:

We all love chocolate, but the way it’s currently produced isn’t sustainable. Climate change is leading to reduced yields, causing spiralling prices and supply-chain uncertainty. As consumers, we’re already seeing the impact of this in the form of rising prices and shrinkflation, and the cacao industry continues to be troubled by issues relating to deforestation.

The industry is at an inflection point and needs alternative solutions that are stable and more environmentally and socially sustainable.”

Sven Wiszniewski of the Oetker Collection KG added:

We’re big believers in the transformative potential of Win-Win. Their approach to reimagining ingredients like chocolate is not only groundbreaking from a scientific perspective, but also incredibly timely given the environmental and ethical challenges facing the industry.

We’re proud to support a team that’s combining world-class innovation with real-world impact, and we look forward to backing their growth across the UK and Europe.”

To find out more about Win-Win and their innovative approach, read New Food’s latest Ingredients for Change interview with founder Ahrum Pak, where she explores why rethinking the traditional chocolate production model is critical in the face of climate, sustainability and supply chain challenges.