Preheat your oven to 350°F (175°C) and grease and flour a round cake pan.

In a blender, blend grated carrots, sugar, vegetable oil, and eggs until smooth, about 30-40 seconds.

In another bowl, whisk together flour, baking powder, salt, and cocoa powder if desired.

Combine the wet mixture with the dry ingredients, folding gently until just combined.

Pour the batter into the prepared cake pan and smooth the top.

Bake for 30-35 minutes or until a toothpick comes out clean.

Cool the cake in the pan for 15 minutes then on a wire rack until completely cool.

In a saucepan, combine sweetened condensed milk, butter, and vanilla over low heat, stirring until thickened, about 5-7 minutes.

Whisk in cocoa powder until smooth and well incorporated.

Frost the cooled cake with the chocolate frosting and decorate with chocolate sprinkles if desired.