About Cocoa
Cocoa is a venture capital firm founded in 2021. It is primarily based out of London, United Kingdom. As of Aug 2026, Cocoa is an active investor, having invested in 31 companies, with 5 new investments in the last 12 months. It primarily invests in Seed round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and FinTech. Most recently it participated in the $***** Seed round of Embedd Overall, Cocoa portfolio has seen 1 unicorn and 2 acquisitions, namely Fuse Energy, Gladia and Loctax. A lot of funds co-invest with Cocoa, with names like Seedcamp sharing a substantial percentage of its portfolio. Cocoa has team of 10 people including 6 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Portfolio Unicorns
Cocoa's List of Top Investments
Cocoa has a portfolio of 31 companies, one of which is a Unicorn. Their most notable investments are in Papaya and Pivot.Their portfolio spans across United Kingdom, France, Germany and 7 more locations. They have invested in Enterprise Applications, High Tech, FinTech, FinTech and 13 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Cocoa:
1. Fuse Energy
Provider of cost-effective and sustainable electricity solutions. It provides users with a renewable energy company focused on accelerating the global transition to a greener energy landscape. The company is building a full-stack renewable energy business with cheaper tariffs, better service, and stronger environmental goals.
Key facts about Fuse Energy
- Founded Year: 2022
- Location: London (United Kingdom)
- Annual Revenue: £10M - £50M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $250M
- Employee Count: 277 as on Mar 31, 2026
- Investors: Lakestar, Collab Fund and 17 Others
- Latest Funding Round: Series B, Jun 04, 2026, $*****
- Highlight: Editors' Pick
2. Fractile
Developer of AI chips for running large AI models. The company develops data center LLM inference accelerator for models with billions or hundreds of billions of parameters
Key facts about Fractile
- Founded Year: 2022
- Location: London (United Kingdom)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $260M
- Employee Count: 116 as on Jul 31, 2026
- Investors: Inovia Capital, Felicis Ventures and 22 Others
- Latest Funding Round: Series B, May 13, 2026, $*****
- Highlight: Editors' Pick
3. Gladia
Key facts about Gladia
- Founded Year: 2022
- Location: Cesson Sevigne (France)
- Stage: Acquired
- Total Funding till date: $20.3M
- Employee Count: 59 as on Jul 31, 2026
- Investors: Kima Ventures, Illuminate Financial and 17 Others
- Latest Funding Round: Series A, Oct 15, 2024, $*****
- Highlight: Acquired
4. Pivot
Provider of source-to-pay platform streamlining procurement, spend management, and vendor relations. The platform offers modules for intake, procurement, vendor and contract management, and AP automation. It provides tools for budgeting, analytics, and risk assessment. The platform integrates with ERP, HR, and other business systems. It aims to improve visibility, control, and efficiency for procurement, finance, IT, and legal teams.
Key facts about Pivot
- Founded Year: 2023
- Location: Paris (France)
- Stage: Series B
- Total Funding till date: $66.9M
- Employee Count: 118 as on Jul 31, 2026
- Investors: Greyhound Capital, Hedosophia and 15 Others
- Latest Funding Round: Series B, May 21, 2026, $*****
- Highlight: Editors' Pick
5. Plumery
API-enabled omnichannel banking solution for banks and financial institutions. It allows banks and financial institutions to offer their banking services to their customers through mobile and web-based channels. It offers ready-to-use banking solutions with integrated analytics solutions and data management for users to understand their customer behavior and preferences.
Key facts about Plumery
- Founded Year: 2020
- Location: Amsterdam (Netherlands)
- Stage: Seed
- Total Funding till date: $7.8M
- Employee Count: 41 as on Jul 31, 2026
- Investors: QED Investors, Seedcamp and 8 Others
- Latest Funding Round: Seed, Oct 02, 2024, $*****
Cocoa's Year-on-Year Investment Trends
Cocoa has invested in 31 companies over the last 4 years, with an average of 3 new investments annually in the last 3 years. In 2025, it made 2 investments, while as of Aug 2026, it has made 3 investments in this year. Its most recent first time investment was in Embedd and most recent follow-on round was in Credibur.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 3 | 0 | 3 |
2025 | 2 | 0 | 2 |
2024 | 2 | 0 | 2 |
2023 | 8 | 0 | 8 |
2022 | 6 | 0 | 6 |
Cocoa's Investments by Stage
Cocoa has made 19 investments in Seed stage with an average round size of $5.59M and 2 investments in Series A stage with an average round size of $8.13M.Stage of entry | No. of Investments |
|---|---|
Seed | 19 |
Series A | 2 |
Note: We have considered here, only first round of investments
Cocoa's Investments by Sector
Cocoa has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, High Tech, HealthTech and Business Services. Notably, it has invested in 30 Tech companies, 26 Enterprise (B2B) companies, 23 Software companies and at least 12 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 13 |
FinTech | 6 |
High Tech | 5 |
HealthTech | 3 |
Business Services | 2 |
Others | 15 |
Note: We have considered here, only first round of investments
Cocoa's Investments by Geography
Cocoa has made most investments in United Kingdom (8), followed by France where it has made 4 investments.Country | No. of Investments |
|---|---|
United Kingdom | 8 |
France | 4 |
Germany | 2 |
Sweden | 2 |
United States | 2 |
Others | 3 |
Note: We have considered here, only first round of investments
Cocoa's recent investments
Cocoa has made 3 investments in 2026 so far. Embedd and Calibre are the latest among them.Here are the most recent investments by Cocoa:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 24, 2026 | Italy | Seed | 3972 | [+7] | |
Apr 22, 2026 | United Kingdom | Seed | 9238 | [+3] | |
Apr 22, 2026 | United States | Seed | 7605 | [+5] | |
Nov 18, 2025 | United Kingdom | Series A | 1409 | ||
Oct 20, 2025 | United Kingdom | Seed | 3209 | [+2] |
Unicorns in Cocoa's Portfolio
Cocoa has 1 unicorn in its portfolio - Fuse Energy. The most recent unicorn in their portfolio is Fuse Energy which became a unicorn in 2025, 1 years before Cocoa first invested in it.Here is a list of unicorns in Cocoa's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Provider of cost-effective and sustainable electricity solutions | 2022 | London | Series B | xqwplgr |
Acquired companies in Cocoa's Portfolio
2 companies from Cocoa's portfolio have been acquired. The most recent acquisition was Gladia in Jul 2026 by OVHcloud for $*****.Here are Cocoa's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 31, 2026 | Jun 19, 2023 | Seed | 2107 | |
Oct 08, 2025 | - | - | 5078 |
Team profile of Cocoa
Cocoa has a team of 10 members including 6 Partners, 1 Venture Partner and 1 Principal located in United Kingdom, India and 2 more locations. Cocoa's team sits on the board of 1 company.Here is a list of all team members in Cocoa:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Italy | - | ||
Partner | - | - | ||
Partner | - | - | ||
Partner | London | - | ||
Partner | Paris | - | - | |
Partner | - | - | - | |
Venture Partner | London | - | - | |
Principal | London | - |
Co-investors of Cocoa
Over the past 4 years, 154 investors have co-invested in Cocoa's portfolio companies. This includes funds and angels.
- Invested before Cocoa: Seedcamp and Serge Chiaramonte have invested in rounds before Cocoa. There is 1 company where Seedcamp has invested before Cocoa and 1 company where Serge Chiaramonte has invested before Cocoa.
- Top Co-investors of Cocoa: 112 investors entered a company along with Cocoa. These include investors like Seedcamp (6 companies).
- Invested after Cocoa: A total of 40 investors have invested in Cocoa's portfolio after their investments. Top Investors include Aria (1 company), Pat Gelsinger (1 company) and Accel (1 company).
Recent News related to Cocoa
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Embedd Raises €2.31M for Physical AI InfrastructureRecurisve Media JSC•Aug 24, 2026•Embedd, Underline Ventures, Microchip Technology, Connect Ventures and 8 others
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UK HealthTech Startup Calibre Raises €2.8M Funding In Pre-Seed RoundStartup Rise EU•Apr 22, 2026•Daybreak Ventures, Amino Collective, Cocoa, Calibre and 1 other
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Condukt Funding fuels Condukt’s compliance pushBdaily•Nov 19, 2025•Condukt, MMC Ventures, Lightspeed Venture Partners, Cocoa
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Cyclana Bio Raises £5M in Pre-Seed FundingFinSMEs•Oct 20, 2025•Cocoa, Wilbe, Eka Ventures, NFX and 1 other
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Hyperline Secures Further $10m Seed Investment Led By Index VenturesFinancial IT•Jan 16, 2025•Hyperline, Index Ventures, Adelie, Kima Ventures and 1 other
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Paris-based Gladia Raises $16 Million in Series A Round FundingStartup Rise EU•Oct 15, 2024•Gladia, XAnge, Illuminate Financial, XTX Markets and 10 others
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Oxford Science Enterprises-backed Fractile raises £11.7mThe Business Magazine•Aug 08, 2024•Fractile, Oxford Science Enterprises, Kindred Capital, NIF and 2 others
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Fractile Raises $15M in Seed FundingFinSMEs•Jul 26, 2024•Fractile, Kindred Capital, Oxford Science Enterprises, Inovia Capital and 4 others
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Mimo raises GBP 15.5 mln and launches B2B payments platformThe Paypers•Apr 12, 2024•Northzone, Mimo, Cocoa, and 9 others
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Arcane Raises $5M in Seed FundingFinSMEs•Dec 14, 2023•Arcane, Accel, Cocoa, Firstminute Capital and 2 others
