Founded in 2020, MeliBio uses plant science and precision fermentation to “engineer the same enzymes found in honeybees’ honey stomach,” said Mandich. The company was founded to address myriad issues related to the reliance on bee honey, Mandich explained.

“There is the food security issue of the European Union, United States or Japan being heavily reliant on imports. There is crazy price volatility happening in this industry. A lot of unethical practices around keeping bees in tiny boxes,” he elaborated.

“Honey and olive oil are two of the most adulterated ingredients ever. So, the question of product integrity and quality is there,” he added.

Like many biotech startups, MeliBio’s first product iteration came at a steep cost to produce a two ounce sample ─ $300,000 ─ before the company successfully scaled production through trial and error, Mandich said. This year, MeliBio projects to be cheaper than American- or European-produced honey with 65% gross margin, he added.

Upon successfully scaling its product, MeliBio launched a branded product line called Mellody to get the word out about its vegan honey, which is available in Golden Clover and Spicy Habanero.

“We were able to scale from that $300,000, most-expensive honey, and in 2023, land our first paying customer ever,” Mandich said. “Last year, we were able to scale from one restaurant to 400 restaurants and supermarkets in the US.”