The ETH spin-off has raised an $18 million (CHF 17 million) Series A to expand its product offerings and international footprint. The round is led by venture capital funds Vorwerk Ventures and Blue Horizon. Additionally, Swiss Nati Goali Yann Sommer and existing investors Stephan Schmidheiny, Good Seed Ventures, the Gaydoul Group, the ETHZurich Foundation and Joyance Partners are also bringing in new capital.
After its support in the seed round, Swiss Startup Capital contributed again by advising one of the new investors.
Growing population along with increasing life expectancy and incomes are major drivers for the rise in global meat demand. However, the current scale of the meat industry is beyond sustainable. Recognizing that meat is synonymous with culture, family and indulgence, Planted found a way to retain the positive attributes of traditional meat while removing the negatives.
New products and new markets
With new kebabs and pulled-style faux meats available and steak-like cuts in the (literal) pipeline, Planted has begun to set his sights outside central Europe. While Planted is already present in Switzerland, Austria and Germany, the new round will allow the team to further scale operations, expand to new markets and create new products, says Co-Founder Pascal Bieri.
With 27g protein on 100g "meat" the chicken from Planted even exceeds the animal original. The product is constantly growing and improving step by step with every production. The product itself is very simple and contains only four natural ingredients: Water, pea proteins, pea fibers and sunflower oil. In a process similar to the production of pasta, the ingredients are mixed by wet extrusion and transformed into a fibrous structure. This is how plant-based chicken is created.
Co-Founders Pascal Bieri, Lukas Böni, Christoph Jenny and Eric Stirnemann recognized the urgent need for alternatives to meat from intensive livestock farming. The company began research in 2017 and launched its first product in late spring of 2019 .Planted is an ETH Zürich Spin-off. planted.chicken™ is available at restaurants and foodservices in German and French-speakingSwitzerland.
About Swiss StartupCapital AG
Swiss Startup Capital is the investment arm of the Swiss Startup Group and seeks to invest in Pre-Seed, Seed and Series-A venture opportunities across technology-related industries in Switzerland, Europe and the US. Investors can become Limited Partners of the SSUG Rookie Fund I and the SSUG Flagship Fund I or co-invest directly into startups through the Investors Club. Startups get access to a world-class network of investors, advisors, academic partners and corporates who will help their companies grow.