Planted raises CHF 19 million to continue its international expansion
03.08.2021
Planted Foods raises an additional CHF 19 million to its CHF 17 million Series A closed in March 2021. The startup will use the capital for its international expansion and scale-up of new products from its state-of-the-art R&D platform. Planted was both a Venture Kick winner and one of the TOP 100 Swiss Startups in 2020.
 The Planted co-founders (from left to right): Pascal Bieri, Eric Stirnemann, Christoph Jenny, and Lukas Böni
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Planted announces the successful completion of its pre-Series B financing round. Founded in July 2019, Planted is an ETH Zurich spin-off that 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”.
The Planted co-founders (from left to right): Pascal Bieri, Eric Stirnemann, Christoph Jenny, and Lukas Böni
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,” said 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,” said Peter Odemark, managing partner at Gullspång Re:food. Peter added that he is delighted to accelerate support and engagement for Planted.
Expanding internationally
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 fiber structure, and the 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”, said 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 very promising 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,” said co-founder Lukas Böni.
In 2020, Planted was a Venture Kick winner and one of the TOP 100 Swiss Startups.
Planted co-founder Pascal Bieri at the TOP 100 Swiss Startup Award 2021
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”.
The Planted co-founders (from left to right): Pascal Bieri, Eric Stirnemann, Christoph Jenny, and Lukas Böni
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,” said 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,” said Peter Odemark, managing partner at Gullspång Re:food. Peter added that he is delighted to accelerate support and engagement for Planted.
Expanding internationally
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 fiber structure, and the 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”, said 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 very promising 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,” said co-founder Lukas Böni.
In 2020, Planted was a Venture Kick winner and one of the TOP 100 Swiss Startups.
Planted co-founder Pascal Bieri at the TOP 100 Swiss Startup Award 2021