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Foreverland, an Italian food-tech start-up, has raised €3.4 million in a seed funding round to advance its mission of creating sustainable chocolate alternatives using carob.
Founded just a year ago, the company has quickly garnered attention for its innovative product, Choruba, which offers a plant-based substitute for traditional chocolate.
The funding round attracted a diverse group of investors, including specialised food venture funds such as Grey Silo Ventures and Eatable Adventure, as well as other strategic players in the food industry.
This financial backing will support Foreverland’s plans to establish its first manufacturing facility in Puglia, Italy, slated to begin operations in January 2025. The investment will also facilitate the company's expansion across Europe and the development of new products.
Earlier this year, Foreverland was highlighted in FoodBev’s ‘Start-up of the Month’ column. Discover the inspiring story behind its inception and journey here.
Foreverland’s flagship product, Choruba, is designed to address the growing concerns surrounding traditional cocoa production, which has faced severe disruptions due to climate change and rising – costs up 300% in the past year.
The cocoa supply is heavily reliant on regions like Ghana and Côte d'Ivoire, which account for two-thirds of global production. The challenges include unsustainable farming practices, high water consumption and significant CO2 emissions, alongside ethical issues such as child labour.
In contrast, Choruba is positioned as a sustainable alternative, requiring 90% less water and generating 80% fewer CO2 emissions than conventional cocoa.
The product leverages carob, a lesser-known ingredient, and emphasises a local Italian supply chain, aligning with the increasing demand for eco-friendly food solutions.
“This investment marks a significant milestone for Foreverland," said Massimo Sabatini, CEO of Foreverland. "We are thrilled to have the support of such prestigious investors who share and endorse our vision for a sustainable and delicious future. With this funding and the new production facility, we can collaborate with various food companies that align with our mission."
In March, I travelled to Côte d'Ivoire to explore the complexities of the cocoa supply chain, from bean to bar. Discover more about my journey here.
Foreverland's rapid growth trajectory is further supported by its recognition in the food tech sector. The startup participated in the Foodseed accelerator and received accolades such as the PNI 'Premio nazionale innovazione' in the industrial category and the Food Tech World Cup in Lausanne, highlighting its innovative approach to food production.
The broader food and beverage industry is increasingly focused on sustainability as consumers demand transparency and ethical sourcing.
Foreverland's approach not only addresses these concerns but also aims to disrupt the traditional chocolate market, offering food manufacturers a viable alternative to cocoa.