Greencovery, a Wageningen-based FoodTech startup that upcycles valuable compounds from industry side streams, has raised €1 million to scale its proprietary cocoa upcycling technology for industrial production.
The round includes investment from ROM InWest, existing shareholder Brightlands Venture Partners (BVP), and a private investor.
”We have proven our separation technology across coffee, oil press cakes, and nuts, but cocoa is where we are reaching commercial scale. North Holland generates over 350,000 tons of food-grade side streams annually. Bringing ROM InWest into this round connects us directly to the region’s industrial network,” said Carlos Cabrera, Founder and Managing Director at Greencovery.
Founded in 2018, Greencovery develops separation technology that turns food industry side streams into valuable functional ingredients. The company states that its mild separation technology enables the extraction of low-carbon footprint ingredients from a wide range of food side streams.
Having validated its initial commercial batches with key clients, Greencovery is now scaling operations alongside a strategic partner to reach a 1,000-ton capacity. The company is building a circular cocoa value chain in North Holland.
According to the Dutch company, Zaandam has served as a European food processing hub for four centuries and remains central to the global cocoa trade. Greencovery claims to add a circular component to that heritage, refining side streams locally into functional ingredients rather than exporting them for low-value uses or disposal.
“Upcycling side streams into functional ingredients instead of incinerating or downcycling them directly supports a circular food system. Deploying this technology with an industrial partner in North Holland is a prime example of regional collaboration,” said Bas Kalshoven, Investment Manager at ROM InWest.
In 2022, Greencovery secured €500k to further develop its separation-purification technology. The €1 million injection is the first step in the Dutch startup’s expansion. The company is now closing an additional €3 million round, with commitments already secured from existing and new investors. This capital will fund full-scale commercial manufacturing and supply ingredients at volume.
The funds will expand production of three functional ingredients derived from cocoa side streams: cocoa fibre, cocoa extract, and cocoa soluble fibre. These products provide food manufacturers with a reliable alternative amid global cocoa price swings, while helping them meet demand for clean labels, natural flavours, and lower sugar content.
Source: EU-Startups
