Foreverland funding news – Italian Startup Foreverland Secures €3.4 Million in Seed Funding

With the help of this finance, Foreverland will be able to go forward with its next stage of development, which will include expanding into Europe, creating new products, and opening its first production plant in Puglia, Italy, which is scheduled to open in January.

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Foreverland will also keep funding R&D in order to stay ahead of the curve and provide the food industry with goods that are sustainable in terms of the environment, society, and economy.

Giacomo Fanin, Managing Partner and Matteo Leonardi, Investment Manager at Grey Silo Ventures, corporate VC of Cereal Docks group said: “At GSV, we spent over a year assessing the (alternative) chocolate sector in all aspects, and when we found out and started digging in Foreverland’s technology we knew that it could tick all the boxes to emerge as a category-defining business. We are proud to be supporting the founding team, who is driven by unmatched ambition and relentlessness but also possesses the frugality and industriousness necessary to build a great food company”.

José Luis Cabañero, Founder and CEO of Eatable Adventures said: “We are proud of Foreverland’s investment round, one of the most successful startups from our first batch of FoodSeed. This achievement is thanks to their ambitious mission to revolutionize the entire cocoa production chain, addressing one of the most significant global challenges with a sustainable, healthy, and accessible alternative. In a context where it is increasingly urgent to find concrete and environmentally friendly solutions, the Italian foodtech startup ecosystem is rapidly consolidating, attracting the interest of investors and large companies to create new synergies focused on open, ethical, and sustainable innovation.”

The whole food industry has been alarmed by the startling 300% surge in raw material costs that has rocked the cocoa market in the last year. Two-thirds of the world's cocoa supply are produced in Ghana and Côte d'Ivoire, whose production has been drastically reduced due to the unabated effects of climate change.

About Foreverland

Foreverland, a Bari-based company with an office in Milan, aims to democratize chocolate by developing environmentally friendly substitutes that don't sacrifice flavor. The company's main offering, Choruba, is a ground-breaking ingredient made of carob that is protected by two patents and provides a tasty, sustainable substitute for regular chocolate.