Foreverland Raises €6 Million to Accelerate International Expansion and Scale Choruba® Commercial Growth

• Total funding reaches €9.4 million as follow-on investors reaffirm confidence and new backers join.

• IFS Food-certified production in Puglia strengthens Foreverland’s credibility as a manufacturer-ready, high-volume supplier.

• The company is entering the organic space as the first industrial-scale producer of organic cocoa-free chocolate.

Milan, 24 March  2026 –  Foreverland, the Italian foodtech company behind cocoa-free chocolate alternative Choruba, today announced a €6 million funding round, bringing total capital raised to €9.4 million. The round includes follow-on participation from existing investors Kost Capital and Maia Ventures, alongside new backing from: CDP Venture Capital, through its Accelerator Fund and Italia Venture II Fund; Linfa agrifoodtech fund, managed by Riello Investimenti SGR; and Newtree Impact.

The funding will accelerate Foreverland’s international expansion across Europe, with a focus on deepening relationships with strategic confectionery players in Germany, France and Italy, and recruiting senior commercial leaders from globally recognised cocoa and chocolate manufacturers.

Foreverland’s first-of-its-kind production facility in Italy has recently obtained IFS (International Featured Standards) certification, confirming internationally recognised quality and safety standards and supporting reliable, high-volume supply for confectionery manufacturers. At the site, Foreverland processes locally sourced Mediterranean ingredients such as carob into cocoa-free chocolate alternatives designed for industrial use, helping manufacturers reduce exposure to cocoa price volatility and supply disruption.

“This round validates our execution, not just as a foodtech innovator, but as a reliable industrial partner for confectionery manufacturers,” said Massimo Sabatini, Co-founder and CEO of Foreverland. “With IFS Food certification in place and demand accelerating, we’re scaling commercial growth across Europe, strengthening key partnerships, and bringing in senior talent from the cocoa and chocolate industry to support manufacturers at scale.”

In parallel, Foreverland is expanding its offering into the organic space with the launch of a dedicated organic Choruba line. While the company’s core business remains the supply of conventional cocoa-free chocolate ingredients to manufacturers, it believes it is currently the only producer offering an organic cocoa-free alternative at industrial scale, with several organic  products featuring Choruba already on shelves in Italy and France.

“We have great confidence in Foreverland's team and their ability to respond to a systemic challenge through innovative, effective and sustainable solutions to become a leader in the international alternative-chocolate market”, said Alessandro Scortecci, Direct Investments Director of CDP Venture Capital.

“At Linfa we invest in teams transforming the food value chain through scalable and commercially sound innovation.” said Marco Gaiani, Founding Partner, Linfa. “Foreverland exemplifies this thesis perfectly, demonstrating that cocoa-free alternatives can bridge sustainability, scale and commercial potential. That’s how you create systemic change and emerge as a category leader in agrifoodtech.”

“Following our initial investment, we have seen Foreverland execute with discipline and clarity,” said Andrea Galassi, Founding Partner, Maia Ventures. “Our decision to reinvest reflects our continued conviction in the team’s ability to develop future-proof ingredients and build the industrial credibility that manufacturers demand.”

This latest investment reinforces Foreverland’s position as an emerging category leader in alternative chocolate. As the company continues expanding across the EU, it is scaling its core conventional offering while meeting growing demand in the organic segment.

About Foreverland

Foreverland is an Italian food ingredients company founded in 2022 with the mission of reimagining indulgence through innovation, sustainability and taste. Based in Milan and Puglia, the company develops next-generation ingredients that combine scientific research with Italy’s tradition of food excellence. Its flagship innovation, Choruba, is a cocoa-free chocolate alternative made from resilient Mediterranean crops, offering the flavour and experience of chocolate with a lighter environmental footprint. Guided by a multidisciplinary team of scientists, entrepreneurs and product developers, Foreverland is helping shape a more sustainable future for the foods people love.

About CDP Venture Capital

CDP Venture Capital is an asset management company where CDP Equity holds a 70% stake and Invitalia a 30% stake. It was set up with the goal of making Venture Capital a cornerstone of Italy’s economic development and innovation, creating the conditions for the overall, sustainable growth of the entire innovation ecosystem. CDP Venture Capital manages 15 investment funds, amounting to over EUR 4,7 billion in resources that support innovative companies at all stages of their life cycle, making both direct and indirect investments (funds of funds). For more information: www.cdpventurecapital.it

About Kost Capital

Kost Capital is an early-stage VC backing visionary entrepreneurs shaping the nutrition transition. Based in Copenhagen, Kost Capital invests in pre-seed and seed ingredients & bio, enabling tech, and nutrition & longevity - building and backing companies that strengthen a more resilient European food ecosystem. With an in-house food studio and test kitchen, the team actively supports founders from concept to scale.

About Maia Advisors Srl

Maia Advisors Srl is a Milan-based advisory firm founded in 2024 by Andrea Galassi and David Bassani and is active in supporting alternative investment funds in the AgriFoodTech space. As the exclusive advisor to Maia Ventures, the firm supports Praesidium S.A. in sourcing, structuring, monitoring, and enhancing the investment opportunities.

About Riello Investimenti SGR and Linfa Fund

Riello Investimenti SGR is an independent asset management company specializing in alternative investments across private equity, private debt and venture capital. For 25 years, the firm has focused on supporting Italian SMEs—key drivers of the “Made in Italy” economy—leveraging a strong industrial heritage and an extensive network of entrepreneurs, managers and specialized advisors.

Among its strategies, the firm manages LINFA, its first VC fund dedicated to next‑generation AgriFood. Classified as an Impact Fund, LINFA supports entrepreneurial solutions that combine strong growth potential with measurable contributions to climate change mitigation, sustainable resource use and pollution reduction.

About Newtree Impact

Newtree Impact is a Brussels-based, mission-driven, evergreen listed holding company investing in breakthrough technologies to transform the global food system. Combining scientific precision, sector expertise, and a high-impact network, Newtree Impact builds a portfolio engineered to reduce emissions, protect biodiversity, and eliminate waste while meeting fast-evolving market demands. The holding is redefining impact investing, making it both accessible and performance-driven. Since its launch in 2021, Newtree Impact has raised €30M, made 24 investments, and is indirectly exposed to over 150 promising startups, including CropX Technologies, Heura, Evodia.Bio and Onego Bio.