Plant-based meat maker Planted secures $18.3m in funding

Meat alternatives producer Planted has raised CHF 17 million ($18.3 million approx.) in a Series A financing round.

Planted, a spin-off from public research university ETH Zurich, will use the funds to support its international expansion and bolster its research and development (R&D) platform.

The plant-based meat company’s Series A round was co-led by Blue Horizon Ventures and Vorwerk Ventures, which were joined by Swiss footballer Yann Sommer and a number of existing investors. Michael Kleindl, founder and managing partner of Blue Horizon Ventures, will join the Planted board.

Planted – which was founded in 2019 – is said to be committed to using only 100% natural ingredients across its portfolio.

The brand’s product ranges, each consisting of different plant protein sources, include: Planted. Chicken, Planted. Pulled, and Planted. Kebab.

The company’s products are currently sold through retailers in Switzerland, Germany and Austria, as well as via its online shop, while Planted also supplies hundreds of foodservice partners.

“Unique aspects such as our natural, healthy, non-artificial ingredients and incredible taste make all the difference and are being valued by an increasing number of customers,” said Planted co-founder, Pascal Bieri.

“We’re excited to further strengthen our international footprint with the current funding, expand our product range and extend our partner network.”

The company plans to make significant investments in R&D, including continuing to develop its fermentation technologies with the aim of enhancing product structure and taste.

Planted co-founder, Lukas Böni, said: “We will further invest in our structuring and fermentation platforms. Combining structuring technologies with the biochemical toolboxes of natural microorganisms will allow us to create ultimately new products with transformative character — all clean, natural, healthy and tasty.”

Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021.