Greencovery raises €1M to scale cocoa upcycling technology

Dutch food tech startup Greencovery has raised €1 million to scale its proprietary cocoa upcycling technology to industrial production. The round includes investment from ROM InWest, existing shareholder Brightlands Venture Partners (BVP), and a private investor.

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 funds will expand production of three functional ingredients derived from cocoa side streams: cocoa fiber, cocoa extract, and cocoa soluble fiber. These products give food manufacturers a reliable alternative during global cocoa price swings, while helping them meet demand for clean labels, natural flavors, and lower sugar content.

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Building a Circular Cocoa Value Chain in North Holland‍

Zaandam has served as a European food processing hub for four centuries and remains central to the global cocoa trade. Greencovery brings an additional circular component to that heritage, refining side streams locally into functional ingredients instead of exporting them for low-value uses or disposal.

” We have proven our separation technology across coffee, oil press cakes, and nuts, but cocoa is where we are reaching commercial scale,” said Carlos Cabrera, Founder and Managing Director at Greencovery. “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.”

“Upcycling side streams into functional ingredients instead of incinerating or downcycling them directly supports a circular food system,” said Bas Kalshoven, Investment Manager at ROM InWest. “Deploying this technology with an industrial partner in North Holland is a prime example of regional collaboration.”

Ad van Vugt, initiator of Zaan Food Makers (https://zaanfoodmakers.com/) and an early investor in Greencovery (family office https://oterap.com), has been key in bringing the region into the spotlight: “North Holland has the industrial base and raw materials to lead circular food processing. Greencovery is contributing to turning this potential into reality.”

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Opening a €3M Tranche for Full Scale-Up‍

The €1 million injection is the first step in Greencovery’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.

“We supported Greencovery through its early technology development,” said Marcel Zijp, Senior Investment Manager at BVP. “ROM InWest’s participation at this stage of industrial deployment comes at a key moment.”