Funding Round attributes
Foreverland, an Italian foodtech startup, has raised €3.4 million in seed funding to develop sustainable, cocoa-free chocolate alternatives. The funding round saw participation from prominent venture capital firms such as Grey Silo Ventures, Eatable Adventures, Kost Capital, CDP Venture, Exor Ventures, 2100 Ventures, Ulixes Capital Partners, Newland Syndicate, Moonstone and other key figures in the food industry. Foreverland's primary innovation is "Choruba," a carob-based product designed to replicate the taste and texture of traditional chocolate while being more sustainable. The funds will be directed toward expanding their presence in Europe, developing new products, and establishing a production facility in Puglia, Italy.
The CEO of Foreverland expressed enthusiasm for the investment, highlighting the company's mission to provide environmentally friendly alternatives to cocoa-based products. Cocoa farming, traditionally tied to deforestation and high water consumption, has been a focal point of environmental concerns in the food industry. Foreverland aims to address these issues by using carob as a more sustainable alternative that requires less water and resources to produce.
Investors in the round emphasized the potential of Foreverland's product to transform the chocolate industry, noting the growing consumer demand for ethical and sustainable food products. By focusing on alternatives that reduce the environmental impact, Foreverland is tapping into a broader trend of sustainability and innovation in the food sector.
The funding will also support Foreverland's efforts to increase production capacity and distribution, enabling the company to scale and meet rising demand. With plans to expand across Europe, the startup is well-positioned to make a significant impact in the sustainable food market.
In conclusion, Foreverland’s €3.4 million seed funding is a crucial step in advancing its mission to offer sustainable chocolate alternatives. With backing from major investors and a strong focus on innovation, the company is set to scale its operations and bring its cocoa-free products to a wider audience, contributing to the global shift towards environmentally conscious food choices.
