Plant cell culture · Boston, USA & São Paulo, Brazil

GALY

Cell-cultured cocoa and cotton · galy.co ↗

Grows cocoa and cotton from plant cells in tanks instead of fields. Its first product is WunderHaus chocolate for professional kitchens.

Stage

Early commercial (step 5 of 6)

Launched WunderHaus couverture and baking chocolate in Oct 2026, blending its cell-cultured cocoa with conventional cocoa, and makes the cocoa at a repurposed site in Essex, Massachusetts. Cotton, including the Suzuran supply deal, is on a longer path.^{[1] [2]}

Revenue

Early revenue

First purchase orders came from a Boston restaurant and a Dubai chocolatier in Oct 2026. A general US launch follows in Dec 2026, and a UAE launch is targeted for 2027. No revenue is disclosed.^{[1] [2]}

Next General US launch of WunderHaus in Dec 2026; an FDA 'no questions' letter for its cocoa; UAE launch in 2027.

Agronomics' holding

Fair value: £2.49m 30 Jun 2026
Portfolio weight: 2% 30 Jun 2026
Stake: 3.2% 30 Jun 2026
Invested: £1.12m since Mar 2020
Multiple: 2.22× +£1.37m
Per year: +17.2% all holdings
Last round: Series B 3 Sep 2024 · 2.2 years ago

At the Series B price Agronomics reported a 2.2x multiple on its investment.

Sources^{[3] [4]}

Investments

What Agronomics put in, at the sterling cost it carries
Date	Cost	Round
10 Mar 2020	£0.37m	US$500k SAFE^{[5] [6]}
14 Mar 2022	£0.75m	US$1m follow-on^{[7] [6]}

Approvals & markets

Pending

USA (FDA)^{[1] [2]}

GRAS notice for cell-cultured cocoa powder (self-affirmed GRAS)
Pending

UAE (ADAFSA)^{[1] [2]}

Cell-cultured cocoa

HQ: United States
Selling in: United States^[2]

Timeline

Oct 2026Commercial

WunderHaus chocolate brand launched^{[1] [2]}

Couverture and baking chocolate for professional kitchens, blending Galy cocoa with conventional cocoa. First orders came from a Boston restaurant and a Dubai chocolatier.
5 May 2026Corporate

Silver at the 2026 Edison Awards^[8]

For its work growing cocoa and cotton from cells.
4 Sep 2024Funding

US$33m Series B^[9]

Led by Breakthrough Energy Ventures, with H&M Group Ventures and Inditex taking part.
8 Jul 2023Commercial

10-year, US$50m Suzuran supply deal^[10]

Starts when GALY launches its first commercial facility.

Sources

Portfolio Update Agronomics Limited (RNS) · 11 Nov 2026
Exclusive: Galy Expands Cell Culture Tech to Cocoa with US Launch of WunderHaus Chocolate Brand Green Queen · 20 Oct 2026
Q2 2026 Investor Report (portfolio at 30 June 2026) Agronomics Limited · 21 Aug 2026
Annual Report 2025: year to 30 June 2025 Agronomics Limited · 30 Dec 2025
Investment of US$ 500,000 in GALY CO. Agronomics Limited (RNS) · 10 Mar 2020
Annual Report 2022: year to 30 June 2022 Agronomics Limited · 20 Dec 2022
Agronomics Follow on Investment in GALY CO. Agronomics Limited (RNS) · 14 Mar 2022
GALY Recognized at 2026 Edison Awards for Redefining the Future of Cocoa and Cotton Production PR Newswire · 5 May 2026
GALY raises US$33m in Series B financing Agronomics Limited (RNS) · 4 Sep 2024
Lab-Grown Cotton Enters The Market With Galy-Suzuran Partnership Forbes · 8 Jul 2023