Foreverland, an Italian foodtech startup specializing in sustainable chocolate alternatives, has secured €3.4 million in seed funding. Just a year after its founding, the company raised the investment from a diverse group of backers, including food-specific venture funds such as Grey Silo Ventures, Eatable Adventures, Maia Venture, and Kost Capital, alongside industry players like CDP Venture, Exor Ventures, 2100 Ventures, and others.
Founded by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, Foreverland is transforming the chocolate industry with its carob-based chocolate alternative, Choruba. Protected by two patents, Choruba offers a planet-friendly, delicious alternative to traditional chocolate, available in both drop and liquid forms for use in a variety of food applications.
The new funds will fuel Foreverland’s European expansion, product development, and the opening of its first production facility in Puglia, Italy, expected to be operational by January 2024. The company, headquartered in Bari with offices in Milan, plans to continue investing in research and development to lead in sustainable food innovations.
“This investment marks a significant milestone for Foreverland,” said Massimo Sabatini, CEO of Foreverland. “With the support of these prestigious investors, we can further our mission to offer sustainable, delicious chocolate alternatives.”
The funding comes at a time when the traditional cocoa market is under pressure, with a 300% rise in raw material costs driven by climate change impacts on production in major cocoa-producing countries like Ghana and Côte d’Ivoire. Cocoa farming also ranks high in water consumption, CO2 emissions, child labor, and deforestation, making sustainable alternatives like Choruba even more critical. Choruba, in contrast, uses 90% less water and emits 80% fewer CO2 emissions, positioning Foreverland as a leader in sustainable food innovation.
Foreverland’s investors are confident in the company’s future. Giacomo Fanin, Managing Partner at Grey Silo Ventures, praised Foreverland’s ambition and innovative approach: “We believe Foreverland has the potential to become a category-defining business in the alternative chocolate sector.”
Eatable Adventures CEO José Luis Cabañero added, “Foreverland’s mission to revolutionize the cocoa supply chain is addressing one of the most significant global challenges with a sustainable and accessible alternative.”
Foreverland’s success has already been recognized within the industry. The company participated in the Foodseed accelerator program, won the 2023 PNI “Premio Nazionale Innovazione” award, and claimed the 2024 Food Tech World Cup in Lausanne for its foodtech innovation. Products featuring Choruba are expected to hit the market soon, making a bold statement in the future of sustainable chocolate.
