Planted has raised 19 million CHF (approx £15 million) in its pre-Series B financing round to add to its 17 million CHF (approx £13.5 million) Series A round in March 2021. With the capital, Planted plan to expand its international footprint and scale up new products from its existing R&D platform.
Founded in July 2019, the Swiss-based company creates all-natural plant-based products akin to meat which are made from different protein sources such as peas, oats and sunflowers. Their existing products, called planted.pulled, planted.chicken and planted.kebab are sold in Switzerland, Germany, Austria and France.
The funding round was led by Vorwerk Ventures, Gullspång Re:food, Movendo Capital, Good Seed Ventures, Joyance, ACE & Company (SFG strategy) and Be8 Ventures. Planted recently received additional further capital from Credit Suisse.
Managing Partner at Gullspång Re:food, Peter Odemark said in an article on Planted’s website:“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”.
Planted Co-Founder Pascal Bieri added: “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 fibre-structure and 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”.
Along with international growth of its existing products, Planted are in the testing phase of its first whole-cut product which it hopes to launch at the end of 2021.
“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” says Co-Founder Lukas Böni.