Bee-io Honey

Company Overview

Snapshot

Founded in September 2018 by Arik Kaufman, Yaron Kaiser, and Lena Birger, Bee-io Honey is a public company with 11–50 employees. The company has raised $5.8M across two funding rounds. In May 2021, Bee-io Honey went public on TASE.

Business overview

Bee-io Honey operates in the Agriculture & Food Technologies sector, focusing on novel food and ingredients. The company develops technology to produce honey without bees, utilizing a process that combines natural nectar flowers with unique biological processes. This innovation aims to mimic the enzymatic activity and specific conditions found in a bee's stomach, alongside developing technologies for natural nectar production to increase honey output efficiently. Bee-io Honey serves both B2C and B2B markets in Israel, the United States, and South America, addressing the critical issue of declining bee populations and their impact on global pollination and food security.

Strategic signal

In January 2023, Bee-io Honey announced a workforce optimization plan, including the layoff of half its employees, with management waiving salary upgrades. This strategic restructuring indicates a focus on operational efficiency and cost management, signaling a pivot towards sustainable growth amidst market challenges in the food tech sector.

Company Intelligence Q&A

When did Bee-io Honey go public?

Bee-io Honey went public on TASE in May 2021, joining the stock exchange at a valuation of over $11 million.

What is Bee-io Honey's core technology?

Bee-io Honey's core technology involves producing honey without bees by combining natural nectar flowers with unique biological processes that mimic the enzymatic activity and conditions within a bee's stomach. The company also works on technologies to produce natural nectar for increased honey production capacity.

What was a significant operational change at Bee-io Honey in early 2023?

In January 2023, Bee-io Honey announced the layoff of half its employees, with company managers waiving salary upgrades. This decision followed a self-examination in December 2022 to meet FDA requirements.

What progress has Bee-io Honey made in protein expression?

In December 2021, Bee-io Honey successfully expressed a protein that will enable the development of cultured honey. This was followed by the successful expression of a cultured royal jelly protein in December 2021, which led to a surge in the company's stock on the exchange.

What is Bee-io Honey's production capacity goal for cultured honey?

In February 2022, Bee-io Honey successfully completed the establishment of a pilot production array for cultured honey, with a capacity of up to 3 tons per week. The company aims for a future commercial capacity of 1,000 tons of honey per year.