Grey Silo Ventures and other investors have provided €3.4 million in seed funding to Italy's Foreverland, a foodtech startup focused on sustainable, carob-based chocolate alternatives.
Target Information
Foreverland, an innovative Italian foodtech startup based in Bari with an office in Milan, was founded with the goal of transforming the chocolate industry through sustainable practices. The company specializes in producing carob-based alternatives to traditional chocolate, aiming to provide eco-friendly products without sacrificing taste. Its flagship product, Choruba, is a patented ingredient offered in drops or liquid form, designed for use in various applications within the food industry.
After just one year of operation, Foreverland has successfully secured €3.4 million in seed funding to enhance product development and facilitate its expansion throughout Europe. The company is poised to launch its first production facility in Puglia, Italy, which is expected to be operational by January.
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Industry Overview in Italy
The Italian food industry is witnessing significant shifts, particularly in the cacao market, which has recently faced dramatic price hikes due to raw material shortages. Resulting from climate change, critical cocoa-producing countries like Ghana and Côte
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Grey Silo Ventures
invested in
Foreverland
in 2024
in a Seed Stage deal
Disclosed details
Transaction Size: $4M