Italian food technology innovator Foreverland has announced a significant funding round of €6 million (approximately $7 million USD), marking a pivotal moment in its mission to disrupt the global chocolate industry. This substantial investment, led by existing investor Kost Capital and new participant Maia Ventures, with further backing from CDP Venture Capital, Riello Investimenti SGR’s Linfa fund, and NewTree Impact, will propel Foreverland’s ambitious European expansion plans and the further development of its flagship cocoa-free chocolate alternative, Choruba. The successful funding round brings the company’s total raised capital to €9.4 million (approximately $10.8 million USD).
The strategic injection of capital comes at a critical juncture for the confectionery sector, which is grappling with unprecedented challenges in the cocoa supply chain. Soaring cocoa prices, exacerbated by climate change impacts on key growing regions and persistent deforestation concerns, have created a pressing need for sustainable and scalable alternatives. Foreverland’s innovative approach, which upcycles carob fruit byproducts and blends them with pumpkin seeds and chickpeas, positions it as a frontrunner in addressing these industry-wide pressures.
A Strategic Funding Round for Accelerated Growth
The newly secured €6 million will be instrumental in several key areas for Foreverland. A primary focus will be deepening existing partnerships and forging new alliances across various European markets, solidifying the company’s distribution network and market penetration. Furthermore, the investment will support the expansion of Foreverland’s leadership team, bringing in vital expertise to navigate the complexities of scaling a food technology enterprise. Crucially, the funding will enable the launch of an organic version of its Choruba range, catering to a growing consumer demand for sustainably sourced and certified organic products.
Andrea Galassi, founding partner at Maia Ventures, expressed strong confidence in Foreverland’s trajectory, stating, "Following our initial investment, we have seen Foreverland execute with discipline and clarity. Our decision to reinvest reflects our continued conviction in the team’s ability to develop future-proof ingredients and build the industrial credibility that manufacturers demand." This sentiment underscores the investors’ belief in Foreverland’s robust business model and its capacity to meet the stringent requirements of major confectionery players.
From Byproduct to Breakthrough: The Choruba Innovation
Foreverland’s Choruba is a testament to innovative food science and a commitment to sustainability. The company addresses the significant issue of carob fruit underutilization; globally, approximately 90% of this fruit is discarded, with only its seeds being processed for locust bean gum. Foreverland’s pioneering process transforms this byproduct into a versatile ingredient that mimics the taste, texture, and functionality of traditional chocolate. The core ingredients – upcycled carob, pumpkin seeds, and chickpeas – are meticulously blended to create a range of products that mitigate the inherent risks associated with the conventional cocoa supply chain.
The company’s product portfolio is diverse, encompassing milk, semi-dark, white, and vegan chocolate variants. Beyond solid chocolate, Choruba is available as a cocoa-free powder, bake-stable chocolate drops, and a soon-to-be-launched spreadable cream. This comprehensive offering allows for broad application across the confectionery industry, from premium chocolate bars to baked goods and dairy alternatives.
Industrial Scale and Quality Assurance: The Puglia Factory Milestone
A significant development that underpins Foreverland’s expansion is the opening of its full-scale manufacturing plant in Puglia, Italy, in October. This state-of-the-art facility boasts an annual production capacity of 500 tonnes of its cocoa-free chocolate. The plant is strategically designed to facilitate industrial trials with larger clients, secure business with small and medium-sized enterprises, and ensure a consistent, scalable supply of its innovative alternatives.
A key feature of the Puglia facility is its dedicated pilot fermentation room. This allows Foreverland’s research and development team to flexibly test and refine processing steps, crucial for optimizing taste profiles and functional properties. This controlled environment also serves to protect proprietary knowledge and rigorously validate the unit economics of its production processes.
Adding another layer of credibility and market readiness, Foreverland’s cocoa-free chocolate factory has recently achieved certification from the International Featured Standards (IFS). This internationally recognized standard attests to the highest levels of quality and safety, providing confectionery manufacturers with the assurance of a reliable, high-volume supply chain partner.
"This round validates our execution, not just as a foodtech innovator, but as a reliable industrial partner for confectionery manufacturers," stated Foreverland co-founder and CEO, Massimo Sabatini. "With IFS Food certification in place and demand accelerating, we’re scaling commercial growth across Europe, strengthening key partnerships, and bringing in senior talent from the cocoa and chocolate industry to support manufacturers at scale." Sabatini’s remarks highlight the company’s dual focus on technological innovation and robust industrial operations.
Alessandro Scortecci, Director of Direct Investments at CDP Venture Capital, commented on the investment, noting, "We have great confidence in Foreverland’s team and their ability to respond to a systemic challenge through innovative, effective and sustainable solutions to become a leader in the international alternative-chocolate market."
Navigating the Climate Crisis and the Rise of Cocoa Alternatives
The urgency behind Foreverland’s mission is underscored by the precarious state of the global cocoa market. In 2024, cocoa stocks reached their lowest levels in a decade, driving prices to record highs. The two primary cocoa-producing nations, Ivory Coast and Ghana, have witnessed substantial deforestation, losing over 85% of their forest cover since 1960. Scientists warn that by 2050, up to a third of the world’s cocoa trees could be lost due to climate change, projecting a severe global shortage.
Beyond the supply chain vulnerabilities, the environmental footprint of conventional chocolate production is significant. Chocolate production is linked to substantial greenhouse gas emissions, second only to beef, and contributes to widespread tropical deforestation. Furthermore, the water-intensive nature of cocoa cultivation, with a single chocolate bar requiring an average of 1,700 liters of water, adds another layer of environmental concern.
Foreverland’s Choruba offers a compelling environmental advantage, reportedly lowering water consumption by 90% and reducing emissions by 82-91% compared to conventional chocolate. This substantial ecological benefit is a powerful draw for the confectionery industry, where interest in cocoa-free solutions has surged.
The broader industry landscape reflects this shift. Major food corporations are actively exploring cocoa alternatives. Nestlé, a dominant force in the global confectionery market, has launched its own line of cocoa-free chocolate snacks utilizing an alternative ingredient. Similarly, Reese’s, a brand under Hershey’s, has faced scrutiny and been forced to implement significant price increases and revise its annual forecasts due to the escalating cost of cocoa. These market dynamics highlight the strategic imperative for companies to diversify their ingredient sourcing and explore sustainable alternatives.
Foreverland has already demonstrated the versatility of Choruba through its adoption in various products, including Easter eggs, pralines, panettone, chocolate-covered almonds, and protein bars. Early this year, the company announced strategic partnerships with established confectionery manufacturers such as Incom Leone, Dulciar, Walcor, and Maxtris, who are now incorporating Choruba into their product lines.
Expanding Horizons: Organic Offerings and European Reach
With the new funding, Foreverland is set to expand its product base by introducing a dedicated organic Choruba range. The company claims to be the sole producer of organic cocoa-free chocolate at an industrial scale, with several organic products already available in Italy and France. While the conventional chocolate alternative remains its core business, the company plans to leverage the new capital to significantly expand its reach across Germany, France, and Italy.
Foreverland is part of a growing ecosystem of food tech startups innovating in the cocoa alternative space. This burgeoning field is attracting significant attention from major chocolate producers like Lindt, Barry Callebaut, and Cargill, as well as large multinational food conglomerates like Mondelēz International. These established players are investing in or partnering with companies developing cocoa-free chocolates, such as Planet A Foods and Voyage Foods, and exploring cell-based cocoa solutions from entities like California Cultured and Food Brewer. This collective innovation signifies a broader industry movement towards securing the future of chocolate in a more sustainable and resilient manner. The successful funding round for Foreverland marks a significant step in this ongoing transformation, positioning the Italian startup for substantial growth and impact in the global food industry.