03 Aug 2021

Planted raises 19 million for international expansion

4 min reading time

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

Zurich, August 3, 2021.

Planted announces the successful completion of its Pre-Series B financing round. The ETH spin-off Planted, founded in July 2019, produces natural, plant-based meat. Vorwerk Ventures, Gullspång Re:food, Movendo Capital, Good Seed Ventures, Joyance, ACE & Company (SFG Strategy) and Be8 Ventures are involved. The convertible loan round is supplemented by additional growth financing from Credit Suisse.
For Christoph Jenny, co-founder of Planted, the quick follow-on Series A round in March this year reflects the traction the company is seeing 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."

Investors see rapid growth

“We are proud to support the Gullspång team on their journey to develop best-in-class products in a rapidly growing market,” says Dirk Meurer, Managing Partner at Vorwerk Ventures. "Gullspång Re:food is pleased to work with Planted to support the most promising alternative protein companies. Developing sustainable meat alternatives is one of the most important changes the food system must undergo in the coming years to achieve a sustainable and resilient state," says Peter Odemark, Managing Partner at Gullspång Re:food. Peter Odemark adds that he is pleased to increase support and commitment to Planted.

‍Expand internationally

Planted offers its products in Switzerland, Germany, Austria and France. The most important retailers include Edeka, Coop, Migros and Spar. The company also supplies foodservice partners and offers B2C sales through its webshop (www.eatplanted.com). The 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 how our products delight so many consumers across Europe. Unique aspects such as our natural, healthy, non-artificial ingredients, incredible fiber structure and taste make the difference. We look forward to continuing with the current Financing to further strengthen our international presence, expand our product range and expand our network of partners who share our passion for having a positive impact on this planet," says co-founder Pascal Bieri.

‍Scale-up by 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 structuring 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 from 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 meat demand. 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 closer to conventional meat in taste and consistency than ever before and uses only 100% natural ingredients and no additives for all products - a truly healthy and better alternative for everyone.
The Planted product ranges, each consisting of 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 is working hard to revolutionize the food chain at Planted's newly built factory and research laboratories in Switzerland.
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