Dutch food technology startup Greencovery has raised €1 million (US$1.2 million) to move its cocoa upcycling technology into industrial scale production. The Wageningen-based company will use the funding to expand production of three functional ingredients recovered from cocoa processing side streams. The investment follows validation of its first commercial batches with customers and marks a shift from technology development to commercial deployment.
Scaling Validated Technology to Industrial Capacity
Greencovery is working with a strategic partner to scale its technology to an initial production capacity of 1,000 tons. The company will initially focus on cocoa fiber, cocoa extract and cocoa soluble fiber, all recovered from cocoa processing side streams. This move comes after commercial batches were validated with customers, providing the foundation for consistent production at larger volumes.
Regional Investment and Circular Food Processing
The financing round includes regional development agency ROM InWest, existing shareholder Brightlands Venture Partners and a private investor. ROM InWest's participation connects Greencovery to North Holland's industrial network while providing regional investment support. North Holland generates more than 350,000 tons of food grade side streams annually, making it a strategic location for circular food processing.
Greencovery benefits from proximity to a major European region for food ingredient processing and substantial cocoa processing activities. Zaandam has a long history as a European food processing center and remains an important location for international cocoa trade. Instead of sending suitable cocoa side streams into lower value applications or disposal routes, the company's process refines them locally into ingredients that can return to food manufacturing.
Addressing Cocoa Price Volatility
Cocoa manufacturers and food companies continue to face volatile raw material costs. Greencovery's recovered ingredients could offer additional formulation options while supporting demand for natural flavors, clean label products and reduced sugar. The company's technology has been demonstrated with coffee, oil press cakes and nuts, but cocoa is becoming its first major commercial application.
Founder and Managing Director Carlos Cabrera noted that the company has proven its separation technology across several materials, but cocoa is where it is reaching commercial scale. He said North Holland generates more than 350,000 tons of food grade side streams annually. Bringing ROM InWest into the round connects the startup directly to the region's industrial network, he added.
Funding Roadmap and Industrial Deployment
The €1 million investment is only the first stage of Greencovery's current financing plans. The company is now closing an additional €3 million round (US$3.5 million) to finance full scale commercial manufacturing and enable supply at greater volumes. Commitments for that round have already been secured from a combination of existing and new investors.
Investor Perspectives on Circularity
Investment Manager Bas Kalshoven at ROM InWest said upcycling side streams into functional ingredients supports a circular food system. He added that deploying the technology with an industrial partner in North Holland is a prime example of regional collaboration. Brightlands Venture Partners has supported Greencovery through early technology development and is participating again as the company moves into industrial deployment.
Greencovery's funding marks an important step from technology development to industrial production. By focusing on cocoa side streams in North Holland, the company aims to turn existing waste costs into new revenue streams while supporting circular food processing. The additional funding round now being closed will determine how quickly it can deliver full scale commercial volumes.