Startup to address sustainability issues in the chocolate industry

Endless Food Co announces the successful completion of a €1M pre-seed investment round, led by Nordic Foodtech VC with support from EIFO and Rockstart. The company also reveals a major commercial partnership with 7-Eleven Denmark to launch products with its chocolate alternative, THIC.

The chocolate treats we know and love face a tough road ahead. Your Toblerone could soon become a luxury good. Cacao prices have more than doubled in the last 12 months, largely due to increasing global temperatures that have decimated the world’s cacao supply chain. Endless Food Co’s innovative chocolate alternative, THIC (This Isn’t Chocolate), aims to bring a sustainable long-term solution to help the existing chocolate industry.

Endless Food Co has developed a patent-pending process to turn large-scale food waste streams into new ingredients. The startup is currently focusing on a sustainable alternative to chocolate that reduces the reliance on cacao, by utilizing upcycled brewer’s spent grain, the primary byproduct from beer brewing. Endless’ product THIC, has been developed as a price-competitive ingredient for the large-scale food industry to use in all traditional chocolate applications.

The funding will accelerate Endless Food Co’s mission to transform the chocolate industry with a more ethical, sustainable alternative. The team aims to increase production to serve large-scale market demands, onboard leading talent, and establish a pilot plant.

 Investors Fuel Expansion for Redefining the Chocolate Industry

Endless Food Co’s pre-seed round, backed by Nordic Foodtech VC, EIFO - the Export and Investment Fund of Denmark, and Rockstart, will allow the company to scale production, make strategic hires, and ramp up its sales efforts, positioning it for further growth in Denmark and across Europe.

Chocolate alternatives are not just emerging but also promising to be a disruptive force, offering a ray of hope in the face of increasing ethical and environmental concerns in the chocolate industry. The conventional chocolate industry is well known for labour issues. The environmental toll is equally alarming, with cocoa production contributing to vast deforestation, threatening biodiversity, and exacerbating climate change.

The investors strongly supported the startup’s vision and impact journey, recognising its potential to redefine and transform the chocolate industry with its unique approach.

“Endless Food Co is a great bet in the alternative cacao space. Their ingredients playbook aligns beautifully with our strategy around backing founders solving the deep underlying problems in our global food system: Cacao is a climate-threatened crop that will become more expensive as supply becomes scarcer and demand continues to increase.,” says Louise Rørbæk Heiberg from Nordic Foodtech VC. “We are proud to support this high-powered and impactful team in their journey as they grow and expand, starting with this key partnership with 7-Eleven. And let’s be clear, they’ve nailed the taste and quality from the beginning”

EIFO sees the potential to reduce the industry's climate impact:

"The chocolate industry faces significant challenges, including the negative impact of climate change on cocoa production and the extensive deforestation that occurs to meet the growing global demand. EIFO invests in Endless Food Co to support a Danish innovative company with the skills and potential to reduce the industry's environmental footprint without compromising on taste and quality," says Lasse Truels Köhler, Investment Manager at EIFO.

A Key Partnership for Mainstream Growth

Simultaneously, the startup is proud to reveal a major new commercial partnership with 7-Eleven Denmark, marking a significant step in scaling its product into retail.

The partnership with 7-Eleven marks a major milestone for Endless Food Co, bringing its innovative chocolate-like ingredient to a broader market. The collaboration will see 7-Eleven offer a series of new products featuring THIC, starting with a collaboration between Endless Food Co and TIM’s Cookies, which will be rolled out in all 180 7-Eleven stores across Denmark at the end of the year.

”Our core mission is to provide a delicious, long-term, and price-friendly solution for the existing chocolate and food industries. Hopefully one day, we can help coat every Mars bar with our alternative chocolate solution” says Maximillian Bogenmann, Co-founder and CEO of Endless Food Co. “Until then, offering a flavor-first, sustainable alternative to chocolate on a large scale presents a huge opportunity to positively impact our existing food system. Partnering with a forward-thinking retailer like 7-Eleven gives us an amazing first step toward realizing the Endless vision.”

Jesper Østergaard, CEO of 7-Eleven Denmark adds: “7-Eleven is constantly exploring new opportunities and challenging the traditional way of doing things. In our eyes, THIC is a truly exciting product because it’s a more sustainable alternative to chocolate – without compromising on great taste. We’re excited to offer our customers THIC in our cookies as early as next month – and without giving it all away, I’m quite sure they can look forward to more of this kind in our stores in the future”

A More Sustainable Future for Chocolate

Endless Food Co is poised to lead the way in sustainable alternatives to chocolate. With growing consumer demand for ethically sourced ingredients, THIC is positioned to offer a solution that mirrors the taste and texture of chocolate without the environmental impact of cocoa production. A recent life cycle assessment shows that THIC offers 80-90% lower carbon emissions compared to conventional dark chocolate.

“Our mission is to future-proof chocolate” added Max. “With the support of our investors and partners like 7-Eleven, we’re excited to bring our product to more people and prove that sustainability and indulgence can go hand-in-hand.”