Foreverland Raises €6 Million in Latest Funding Round
Foreverland, an Italian company dedicated to enhancing the sustainability, safety, and accessibility of food systems, has successfully raised €6 million in an undisclosed funding round. The round was led by Kost Capital and Maia Ventures, with additional investments from CDP Venture Capital, Linfa agrifoodtech fund managed by Riello Investimenti SGR, and Newtree Impact.
Innovative Cocoa-Free Chocolate
Based in Milan, Foreverland is known for developing chocolate alternatives that do not rely on cocoa. The company produces a unique product called Choruba, which uses Mediterranean ingredients such as carob to create a chocolate-like experience without the traditional cocoa content. This innovation aligns with a growing demand for sustainable and alternative food products.
Key Leadership and Vision
The company was co-founded by Massimo Brochetta, Massimo Sabatini, and Riccardo Bottiroli. Massimo Sabatini, who serves as the CEO, commented on the funding round: "This round validates our execution, not just as a foodtech innovator, but as a reliable industrial partner for confectionery manufacturers."
Strategic Use of Funds
The newly secured funds will primarily be used to accelerate Foreverland's expansion across Europe. The company plans to strengthen its relationships with major confectionery manufacturers in countries such as Germany, France, and Italy. Additionally, Foreverland intends to recruit senior commercial leaders with backgrounds in the global cocoa and chocolate industries to support its growth trajectory.
Expanding Product Offerings
Foreverland is also expanding its product range to include organic alternatives. The company is currently the only producer offering an organic cocoa-free alternative at an industrial scale, with products available in Italy and France. Their production facility has obtained IFS certification, ensuring compliance with international quality and safety standards, which positions Foreverland as a reliable supplier for industrial customers.
Future Outlook
With this funding, Foreverland aims to solidify its position in the emerging alternative chocolate market, scaling both its conventional and organic offerings to meet increasing demand across Europe. The company is poised to leverage its innovative approach and strategic partnerships to further its impact on the global food industry.