Italian food-tech startup Foreverland secures €3.4 million to transform the chocolate industry using carob

Foreverland, founded just a year ago by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, has raised €3.4 million in Seed funding. The round attracted a diverse range of investors, including specialized food venture funds such as Grey Silo Ventures, Eatable Adventure, and Kost Capital, alongside prominent players such as CDP Venture, Exor Ventures, 2100 Ventures, Ulixes Capital Partners, Newland Syndicate, and Moonstone.

With this investment, Foreverland is poised for its next growth phase, which includes expanding across Europe, launching new products, and building its first production facility in Puglia, Italy, expected to open in January 2025. The company will also continue to focus on research and development, driving innovation in sustainable food solutions that address environmental, social, and economic challenges.

Based in Bari with an office in Milan, Foreverland’s mission is to democratize chocolate by offering a sustainable, planet-friendly alternative without sacrificing taste. Their flagship product, Choruba (formerly Freecao), is a patented, carob-based ingredient that provides an eco-friendly substitute for traditional chocolate. Available in both drops and liquid form, Choruba is designed for use in a wide range of food industry applications, with products incorporating the ingredient expected to launch soon.

The cocoa market has been hit hard by rising raw material costs, with a 300% increase over the past year, causing concern throughout the food sector. Climate change has significantly affected production in Ghana and Côte d'Ivoire, which supply two-thirds of the world’s cocoa. Beyond cost, the unsustainable nature of cocoa production – ranked highest in water usage and third in CO2 emissions, as well as its contributions to child labor and deforestation – has become a pressing issue. Choruba, in contrast, uses 90% less water and generates 80% fewer CO2 emissions, all while supporting the revival of carob and its Italian supply chain. Foreverland’s mission is to create a future where sustainability and taste go hand in hand.

“We live in a beautiful 'land,' but we are not treating it with care. If we continue this way, it won’t last 'forever,'" commented Giuseppe D'Alessandro, CMO of Foreverland. "Our goal at Foreverland is to create innovative, future-proof food products that protect both our planet and future generations."

“This funding marks a crucial milestone for Foreverland," added CEO Massimo Sabatini. "We’re excited to have the backing of such respected investors who share our vision of a sustainable and delicious future. With these resources and our new production facility, we look forward to collaborating with food companies that align with our mission."

"In this journey, we’ve learned how to turn what was once considered waste into something unique and groundbreaking through technology and innovation," said CTO Riccardo Bottiroli. "We’ve already filed two patents, and we’re not stopping. We’re developing new allergen-free products, such as spreadable creams, with ongoing research driving our progress."

Giacomo Fanin, Managing Partner, and Matteo Leonardi, Investment Manager at Grey Silo Ventures, the corporate VC of Cereal Docks Group, said: “At GSV, we spent over a year analyzing the alternative chocolate market, and when we discovered Foreverland’s technology, we knew it had the potential to become a game-changer. We’re proud to support the founding team, whose ambition and determination, coupled with their resourcefulness, set them up to build a successful food company."

José Luis Cabañero, Founder & CEO of Eatable Adventures, stated, "Foreverland’s investment round is one of the most impressive successes from our first FoodSeed batch. Their mission to revolutionize the cocoa supply chain with a sustainable, healthy, and accessible alternative tackles a major global issue. As the need for environmentally-friendly solutions grows, the Italian foodtech ecosystem is drawing significant attention from investors and major corporations, fostering new synergies around open, ethical, and sustainable innovation."

In 2023, Foreverland participated in the FoodSeed accelerator, part of the CDP Venture Capital network, and won the PNI “Premio nazionale innovazione” in the industrial category. In 2024, they also secured victory at the Food Tech World Cup in Lausanne, a major global event for foodtech innovation.

Foreverland is an innovative food-tech startup focused on sustainable, cocoa-free chocolate alternatives. Founded in 2023, it quickly gained recognition for its flagship product, Choruba, offering a tasty, ethical, and environmentally-friendly option for chocolate lovers. With headquarters in Puglia and an office in Milan, Foreverland is on a mission to create a more sustainable future for the food industry as it expands across Europe.