Planted Foods Secures $18M Series A to Expand Plant-Based Meat Alternatives

Planted Secures $18 Million in Series A Funding for Expansion

Planted, a company innovating in the realm of plant-based meat alternatives, has successfully raised $18 million (equivalent to CHF 17 million) in a Series A funding round. This investment will be utilized to broaden the company’s product line and extend its reach into new international markets.

Currently offering kebab and pulled-style meat substitutes, with steak-like options under development, Planted is now focusing on expansion beyond its initial central European base.

From ETH Zurich Spinout to Market Presence

Originating as a spinout from ETH Zurich in 2019, Planted has consistently evolved beyond its original chicken alternative recipe. The company’s core technology centers around utilizing pea protein and pea fiber, extruded to mimic the fibrous texture of chicken, achieving a remarkably close substitution in culinary applications.

This foundational approach has demonstrated adaptability, allowing for the creation of diverse products with varying flavors and textures.

“Our objective is to incorporate a variety of proteins, fostering both agricultural diversity and catering to different dietary needs,” explained co-founder Christoph Jenny.

Image Credits: Planted

“The recently introduced planted.pulled, for instance, combines sunflower, oat, and yellow pea proteins, altering both the structure and taste to emulate pulled pork, rather than chicken. Notably, the sunflower proteins are a byproduct of sunflower oil production, aligning with a circular economy model.”

Growth and Future Plans

When Planted first gained attention, its products were available in a limited number of restaurants and grocery stores. Today, the company boasts a presence in over 3,000 retail locations across Switzerland, Germany, and Austria, alongside partnerships with restaurants and food service providers.

This substantial organic growth, coupled with the overall expansion of the meat alternative market, facilitated the successful fundraising effort.

The newly acquired capital will be allocated to research and development, as well as continued expansion initiatives.

“These funds will be directed towards enhancing our technological infrastructure and scaling up production of our prime cuts, currently manufactured at a laboratory level,” stated Jenny.

“On the manufacturing front, we aim to significantly increase our current capacity from half a ton per hour to meet the growing demand from international markets, beginning with neighboring countries and extending further into Europe and beyond.”

Image Credits: Planted

“We will also continue to invest in our structuring and fermentation platforms. By integrating structuring technologies with the capabilities of natural microorganisms, we can develop entirely new products that are clean, natural, healthy, and flavorful,” added co-founder Lukas Böni in a press release.

Scaling up production is expected to drive down costs, a long-standing goal for the company.

Competitive Landscape and Future Outlook

As other companies in the plant-based sector secure funding and expand their market presence, competition is intensifying. However, Planted appears to be focusing on specialized food types that are less prevalent, particularly in the U.S. market, where sausages, ground “beef,” and “chicken” nuggets currently dominate the meat alternative landscape.

While a specific timeline hasn't been announced, Jenny indicated that the possibility of Planted products reaching American consumers is likely in the near future.

The funding round was jointly led by Vorwerk Ventures and Blue Horizon Ventures, with participation from Swiss football player Yann Sommer and existing investors.

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