Foreverland raises €6M for cocoa-free chocolate alternatives

Europe’s cocoa-free chocolate segment is attracting growing investor attention as confectionery manufacturers scramble to mitigate the supply chain volatility that has rattled the industry over the past two years. Milan-based foodtech startup Foreverland has secured €6 million in a new funding round to scale its carob-based chocolate alternative, bringing its total capital raised to €9.4 million.

The round saw follow-on investment from existing backers Kost Capital and Maia Ventures, alongside a notable roster of new investors including CDP Venture Capital, Linfa agrifoodtech fund (managed by Riello Investimenti SGR), and Newtree Impact. The funds will be deployed to accelerate commercial expansion across Europe, strengthen partnerships with major confectionery manufacturers, recruit senior commercial talent from the cocoa and chocolate industry, and develop new products — including an organic cocoa-free line.

Strategic investors target cocoa alternatives amid supply instability

The investor syndicate reflects a deliberate blend of agrifood-specialist capital and impact-oriented funds. CDP Venture Capital, the venture arm of Italy’s national promotional institution Cassa Depositi e Prestiti, brings institutional credibility and a track record of backing Italian deep tech and sustainability ventures. Newtree Impact, meanwhile, signals growing appetite among impact investors for food system resilience plays — an area where cocoa alternatives sit squarely at the intersection of climate adaptation and industrial innovation.

Massimo Sabatini, co-founder and CEO of Foreverland, noted that the funding reflects the company’s maturation from a foodtech innovator into a dependable industrial partner. With IFS Food certification now in place and commercial demand accelerating, the company is positioning itself as a plug-and-play solution for confectionery manufacturers seeking to de-risk their cocoa exposure.

Foreverland’s flagship product, Choruba, is produced from Mediterranean crops — primarily carob — and is engineered to replicate the taste and functionality of traditional chocolate. The company operates a production facility in Puglia with an annual capacity of 500 tonnes, a scale that distinguishes it from many early-stage cocoa alternative ventures still operating at pilot level.

A shifting landscape for Europe’s chocolate industry

The cocoa market has experienced extraordinary turbulence. While cocoa futures have retreated from the record highs of 2024, falling roughly 70 per cent to around $3,000 per tonne in early 2026, structural pressures persist. Climate-related disruptions in West Africa, price volatility, and evolving consumer expectations around sustainability continue to reshape procurement strategies across the confectionery sector.

Major manufacturers have already begun reducing cocoa content in their products. Industry data from Mintel suggests that 43 per cent of UK chocolate consumers express interest in cocoa-free products, provided taste remains uncompromised — a signal that demand-side readiness is building in parallel with supply-side innovation.

Foreverland is not alone in this space. Cargill has developed NextCoa from roasted grape and sunflower seeds, while Germany’s Planet A Foods has raised significant capital for its oat-and-sunflower-based ChoViva. However, Foreverland’s Mediterranean sourcing model and existing industrial-scale production capacity position it competitively within the European landscape, particularly for manufacturers in southern Europe seeking locally sourced alternatives.

Founded in Milan in 2023 by Massimo Sabatini, Riccardo Bottiroli, Giuseppe D’Alessandro, and Massimo Brochetta, the company has moved swiftly from concept to commercial scale. With this latest round, Foreverland plans to deepen its presence in Germany, France, and Italy — three markets where both manufacturer demand and consumer appetite for chocolate alternatives are accelerating.

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