Planted Foods raises an additional 19 million Swiss Francs to its CHF17m Series A closed in March 2021. The capital will be used for its international expansion and to scale up new products from its state-of-the-art R&D platform.
Zurich, 3rd of August 2021.
Planted announces the successful completion of its pre-Series B financing round. Founded in July 2019, Planted, the ETH Zurich spin-off creates all-natural plant-based meats. Vorwerk Ventures, Gullspång Re:food, Movendo Capital, Good Seed Ventures, Joyance,ACE & Company (SFG strategy) and Be8 Ventures are participating. The Convertible Loan round is complemented through additional growth funding provided by Credit Suisse.
For Planted's Co-Founder Christoph Jenny, the quick follow-on round to the Series A in March of this year reflects the traction the Company sees in the market and with investors. "We are growing fast in our existing markets in Switzerland, Germany, Austria and France. With the additional capital we will accelerate international growth and expand our product range".
Investors See Fast Growth
"We are humbled and proud to continue supporting the planted team on their path towards developing best-in-class products in a rapidly growing market" says Dirk Meurer, Managing Partner at Vorwerk Ventures. "Gullspång Re:food is excited to partner with Planted as part of their quest to back the most promising alternative protein companies. Developing sustainable meat alternatives is one of the most critical shifts the food system must undergo during the coming years to reach a sustainable and resilient state", says Peter Odemark, Managing Partner at Gullspång Re:food. Peter adds that he is delighted to accelerate support and engagement for Planted.
Planted offers its products in Switzerland, Germany, Austria and France. Key retailers include Edeka, Coop, Migros and Spar. Further, the company supplies foodservice partners and offers B2C sales through its webshop (www.eatplanted.com). Success in Switzerland, Germany and Austria shows that Planted's products are in high demand. The company is getting ready to enter several new markets in Q3 and Q4 of 2021. "It makes us very proud to see how our products excite so many consumers all over Europe. Unique aspects such as our natural, healthy, non-artificial ingredients, the incredible fibre-structure and taste make all the difference. We're excited to further strengthen our international footprint with the current funding, expanding our product range and extend our network of partners that share our passion for making a positive impact on this planet", says Co-Founder Pascal Bieri.
Scale-up of Whole Cuts
The company is currently in the testing phase of its first whole-cut product and expects to launch it towards the end of this year. The development of the structuring and fermentation platform is progressing rapidly, enhancing product structure, taste and ultimately consumer liking. "Our tech pipeline shows verypromising prototypes. Now we need to test with consumers, fine-tune and scale them. Strong backing by investors gives us the ability to fast-track testing and put substantial resources behind the scale-up" says Co-Founder Lukas Böni.
A growing population along with increasing life expectancy and incomes are major drivers for the rise in global meat demand. However, the current scale of the meat industry is beyond sustainable. Planted wants to change that. The Swiss ETH spin-off, founded in 2019 by Co-Founders Pascal Bieri, Lukas Böni, Christoph Jenny and Eric Stirnemann, has committed itself to nothing less than starting a revolution with its delicious plant-based meat. With an unprecedented closeness to conventional meat in terms of taste and texture, Planted is committed to using only 100% natural ingredients and no additives in all its products - making it a truly healthy and better option for all.
The Planted product ranges, each consisting of different protein sources (peas, oat, sunflowers), include: planted.™ chicken,planted.™ pulled and planted.™ kebab. But rest assured, the dedicated science team is hungry for change and working hard to revolutionise the food chain in Planted's newly built factory and research labs in Switzerland.