Wageningen-based Greencovery raises €1 million to scale cocoa upcycling technology, with further €3 million round underway

Wageningen-based FoodTech company Greencovery has secured €1 million in investment to scale its cocoa upcycling technology. The funding round includes participation from ROM InWest, Brightlands Venture Partners (BVP), and a private investor. Carlos Cabrera, Founder and Managing Director at Greencovery, stated that the company is reaching commercial scale with cocoa after proving its separation technology on coffee, oil press cakes, and nuts.

North Holland generates over 350,000 tons of food-grade side streams annually, and the investment ties Greencovery to the region's industrial network. The company, founded in 2018, develops mild separation technology that extracts low-carbon footprint ingredients from various food side streams. Greencovery is now scaling operations with a strategic partner to reach a 1,000-ton capacity and aims to build a circular cocoa value chain in North Holland.

The €1 million injection follows a previous €500k round in 2022 and marks the first step in the startup's expansion. An additional €3 million round is underway, with commitments from existing and new investors. The capital will be used for full-scale commercial manufacturing and supplying three cocoa-derived functional ingredients: cocoa fibre, cocoa extract, and cocoa soluble fibre.

These products provide food manufacturers with alternatives amid global cocoa price fluctuations and help meet demand for clean labels, natural flavors, and reduced sugar content.