Climate VC World Fund leads the funding round. Omnes Capital, Cherry Ventures, Mudcake, Nucleus Capital, and TriplePoint Capital also participated. With the fresh capital, Planet A Foods aims to advance the international expansion of Choviva and expand its process to additional plant-based ingredients. Part of the funds has already flowed into expanding production at the facility in Pilsen, Czech Republic.
Sara Marquardt, co-founder and CTO of Planet A Foods, says:
“The Series A has accelerated the further development of our technology platform and enabled us to hire top-notch experts in the fields of lipids, chocolate, and synthetic biology. We have now ramped up production of our cocoa butter and palm oil alternatives to an industrial level and are ready for the launch of exciting new products.”
Maximilian Marquardt, co-founder and CEO of the company, adds:
“This Series A round has already enabled us to produce at scale and continuously supply our customers with Choviva. It brings us closer to building a scalable and competitive biotechnology platform for the food industry.”
Planet A Foods has global expansion plans
Daria Saharova, managing partner at World Fund, is also enthusiastic:
“Since we invested in the company in 2021, we are proud of its fantastic development. Within three years, they transformed a proof-of-concept into an industry-ready product on shelves and forged partnerships with global giants. The fact that this Series A funding round was oversubscribed despite a general decline in foodtech investments is a testament to their success. We are very pleased to have led this round for Planet A Foods and look forward to supporting the team in implementing its ambitious global expansion plans in 2024 and beyond.”
Planet A Foods has already launched several products on the market together with Rewe and plans further partnerships with retailers. Additionally, the startup cooperates with companies such as Griesson – de Beukelaer, Peter Kölln, Spitz, Hans Freitag, and Lufthansa. Lindt recently launched a vegan chocolate product containing Choviva.
