Swiss alt-meat company Planted Foods has raised 19 million Swiss francs (about $12 million) in its pre-Series B funding round. Participants included Vorwerk Ventures, Gullspång Re:food, and Movendo Capital.
Planted says it will use the capital to expand internationally and strengthen its R&D platform. Its products are already available in Switzerland, Germany, Austria, and France, and it has plans to expand to several more countries.
Just a few months ago, Planted raised 17 million Swiss francs in a previous funding round, with investors including footballer Yann Sommer. In an interview with vegconomist, the company said its success was down to the unique fibre structures used in its products, as well as its clean-label philosophy — Planted’s chicken contains only four ingredients.
Though currently best known for its pea-based chicken pieces and pulled pork, Planted is also using fermentation to develop whole cuts of plant-based meat. The company says progress has been rapid and it expects to launch the whole cuts towards the end of the year.
“It makes us very proud to see how our products inspire so many consumers all over Europe,” says co-founder Pascal Bieri. “Unique aspects such as our natural, healthy, non-artificial ingredients, incredible fibre texture, and taste make all the difference. We look forward to using the current funding to further strengthen our international presence, expand our product range and grow our network of partners who share our passion for making a positive impact on this planet.”