Switzerland’s KEMPTTHAL, Sept. 1, 2022 — Swiss foodtech startup Planted, known for its clean-label bio-structured meat, has completed the closing of its CHF 70 million series B financing round. L Catterton, the biggest international consumer-focused private equity firm, led the funding. Planted will use the money to expand internationally, introduce a new line of whole-cut items, including chicken breast, and boost manufacturing.
Planted successfully completed its CHF 70 million Series B fundraising round, which was headed by L Catterton, one of the largest global consumer-focused private equity firm. The ETH Zurich spin-off, Planted, was established in July 2019. It makes excellent meat from non-meat sources like peas, oats, and sunflower seeds. Through its innovative biostructuring approach, which blends protein structuring and fermentation, Planted focuses on making the ideal bite using clean-label ingredients. Existing investors, including Vorwerk Ventures, re: food, Movendo, Be8 Ventures, ACE, ETH Foundation, Yann Sommer, and Tengelmann Ventures, have joined L Catterton.
The co-founder of Planted, Christoph Jenny, said:
“We are proud to be Europe’s fastest growing alternative protein company, with a strong track record, despite our nascency, in established markets like Switzerland, Germany, Austria, and France, and early traction in new markets like the UK and Italy. With the extra money, we plan to develop a second production facility, expand our product line to include a line of whole-cut items, and speed up our worldwide growth.”
Michael Farello, Managing Join of L Catterton’s Growth Fund, said:
“It is a pleasure to partner with Planted in its ambition to reinvent the way meat and protein-rich meals are consumed internationally. Their products are not just scalable, free of artificial substances, and designed with consumers’ daily lives in mind; they are also inspired by nature. Plants directly contribute to developing a better and more sustainable food system by using food as a potent tool to advance human health and environmental stability. As more individuals around the world continue to incorporate alternative proteins into their diets, we are firmly convinced that the company will continue to develop.”
Planted is introducing its whole-cut product line, which is supported by its distinctive biostructuring procedure that blends protein structuring and biotechnology. Planted can create and manufacture larger chunks of meat with complex structure, texture, juiciness, and tenderness because of its exclusive technology. According to Planted, bio structured proteins will eventually exceed animal meat in terms of flavor, sustainability, health, effectiveness, and cost.
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