Swiss alternative protein start-up Planted Foods AG has secured CHF 7 million ($7 million) in funding, as it aims to scale-up production and expand abroad.
Investors of the seed rounds include Blue Horizon Corporation, Hiltl AG, Good Seed Ventures, Mica Ventures, Joyance Partners, and the ETH Foundation, as well as private investors.
The Swiss ETH Spin-off uses technology to create alternative meat from plant-based ingredients to meet the demand for sustainable protein. The company plans to use the capital to scale-up production, accelerate research and development, as well as enter ‘key European markets’.
Planted claims to have found a way to ‘retain the positive attributes of traditional meat while removing the negatives’. Its technology reportedly mimics the fibre structure of various meat types, uses all-natural ingredients without requiring additives, and adds the ‘juiciness’ otherwise absent from conventional meat analogues.
The start-up’s first product Planted Chicken was launched in late Spring 2019 and is made from pea protein, pea fibre, sunflower oil and water. Planted also offers a BBQ version of its chicken product and plans to launch its new pulled pork product line.
“This seed round will allow us to match the strong demand for our all-natural, 100% clean Planted Chicken in Switzerland and abroad,” said co-founder of Planted Christoph Jenny.
Co-founder Eric Stirnemann said: “We will increase our production capacity to transform plant-proteins into meat by more than ten times.”
Co-Founder Lukas Böni added: “The funding will allow us to further strengthen our cutting-edge R&D and continuously craft the tastiest products.”
© FoodBev Media Ltd 2019