Wageningen-based Greencovery has raised €1 million to scale its cocoa upcycling technology to industrial production, marking a new step for the Dutch FoodTech startup as it moves beyond early commercial validation.
The Round
The round includes ROM InWest, existing investor Brightlands Venture Partners, and a private investor.
Greencovery says it has already validated initial commercial batches with key clients and is now scaling operations with a strategic partner to reach 1,000-tonne capacity. The company noted this round is only the first part of a broader expansion plan, and it’s already in the process of closing an additional €3 million round to support full-scale commercial manufacturing and supply at volume.
The Technology
Greencovery develops separation technology that turns food industry side streams into valuable functional ingredients. Its core focus is cocoa upcycling, converting cocoa side streams into three functional ingredients: cocoa fiber, cocoa extract, and cocoa soluble fiber — turning what would otherwise be processing byproducts into marketable, functional food ingredients.
Use of Funds
Greencovery plans to use the capital to:
- Scale its proprietary cocoa upcycling technology to industrial production
- Expand production of cocoa fiber, cocoa extract, and cocoa soluble fiber
- Reach 1,000-tonne capacity
- Fund full-scale commercial manufacturing
- Supply ingredients at volume
