The future of snacking: How Mondelēz is driving innovation with SnackFutures Ventures

In an episode of the Selected podcast recorded during SIAL, Richie Gray, Vice President and Global Head of SnackFutures Ventures at snack giant Mondelēz International, shared insights into their unique approach to investing in innovative snacking solutions, the balance between business and technology, and their commitment to sustainability.

The future of snacking: beyond snacks to innovation

SnackFutures, the venture investment hub of Mondelēz, is working on creating the future of snacking. “We’re not just investing for today; we’re investing for tomorrow, hence the name SnackFutures,” says Gray. With a mission aligned to Mondelēz’s Vision 2030, the group focuses on sustainability and wellbeing, ensuring their investments create long-term value for the industry and consumers. From better-for-you donuts to cell-based cocoa innovations, the emphasis is clear: Innovation must lead to disruption and scale.

A tailored approach to investments

Unlike traditional funds, SnackFutures doesn’t operate on fixed capital allocation but evaluates opportunities case by case. “We don’t just put money in and sit back,” says Gray. They actively support startups with resources in R&D, supply chain management, and retail connections. For example, SnackFutures worked with Miami-based Craize to resolve manufacturing challenges, improving safety, productivity, and costs. This hands-on, collaborative approach is what sets them apart from other investors.

Success stories: from urban legend to tech disruption

SnackFutures has invested in a wide range of food-related startups, from brands like Urban Legend, which revolutionized fresh donuts with reduced calories and higher fiber, to tech-based solutions like Celleste Bio’s cell-based cocoa and Torr’s snack bar production technology. These investments highlight their strategic blend of supporting established brands and fostering breakthrough technologies. “We always want to see a path to real scale,” Gray emphasizes.

Global reach, local impact

SnackFutures maintains a global remit, actively engaging in the U.S. and Europe while exploring opportunities in India and China. Their CoLab accelerator program has further extended their reach, offering startups not only funding but also guidance in scaling and accessing capital markets. As Gray points out, “It’s about more than the money—it’s about building the future.”

With a mix of investment expertise and a people-first approach, SnackFutures exemplifies how corporate venture arms can drive meaningful industry change. As Gray concludes, “If you’re an innovative business in snacking or disruptive technology, we want to hear from you.”