Planted Raises 19 million for international expansion

Planted Foods is increasing its Series A closed in March 2021 by a further 19 million Swiss francs. The capital will be used for international expansion and the development of new products from the state-of-the-art R&D platform.

Zurich, August 3, 2021.

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Planted announces the successful closing of its Pre-Series B funding round. Founded in July 2019, the ETH spin-off Planted produces natural plant-based meat. 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 by additional growth financing from Credit Suisse.
For Christoph Jenny, co-founder of Planted, the quick follow-up to the Series A in March this year reflects the traction the company sees in the market and among investors. "We are growing rapidly in our existing markets in Switzerland, Germany, Austria and France. With the additional capital, we will accelerate international growth and expand our product range."
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Investors see rapid growth

"We are proud to support the Gullspång team on their journey to develop best-in-class products in a fast growing market," said Dirk Meurer, Managing Partner at Vorwerk Ventures. "Gullspång Re:food is excited to partner with Planted to support the most promising alternative protein companies. The development of sustainable meat alternatives is one of the most important changes the food system will have to go through in the coming years to reach a sustainable and resilient state," says Peter Odemark, Managing Partner at Gullspång Re:food. Peter Odemark adds he is pleased to increase support and engagement with Planted .
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Expand internationally

Planted offers its products in Switzerland, Germany, Austria and France. Key retailers include Edeka, Coop, Migros and Spar. The company also 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 preparing to enter several new markets in Q3 and Q4 2021. "It makes us very proud to see our products delighting so many consumers across Europe. Unique aspects such as our natural, healthy, non-artificial ingredients, incredible fiber texture and taste make all the difference. We look forward to using the current funding to further strengthen our international presence, expand our product range and grow our network of partners who 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. Development of the texturing and fermentation platform is progressing rapidly, improving product structure, taste and ultimately consumer preferences. "Our technology pipeline shows very promising prototypes. Now we need to test, fine-tune and scale them with consumers. The strong support of investors gives us the opportunity to accelerate testing and dedicate significant resources to scaling," says co-founder Lukas Böni.

About Planted

The growing population as well as increasing life expectancy and higher income are the main reasons for the increase in global demand for meat. However, the current scale of the meat industry is not 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 set out to do nothing less than start a revolution with its delicious plant-based meat. Planted comes as close as ever to conventional meat in taste and consistency and uses only 100% natural ingredients and no additives in all its products - a truly healthy and better alternative for everyone.
The Planted product lines, each made from different protein sources (peas, oats, sunflower), include: planted.™ chicken, planted.™ pulled and planted.™ kebab. But rest assured that the dedicated science team is hungry for change and working hard to revolutionize the food chain in Planted 's newly built factory and research labs in Switzerland.