Planted, a Switzerland-based plant-based meat business, has been backed to the tune of CHF17m (US$18.3m) in a Series A funding round.
The round was co-led by specialist plant-based food investor Blue Horizon Ventures and Vorwerk Ventures , a VC fund set up by household appliances company Vorwerk Group. Swiss footballer Yann Sommer and some of Planted’s existing investors also joined the round.
Zurich-based Planted said it will use the capital for its international expansion and to bolster its R&D platform, especially in the area of fermentation technologies to “enhance product structure and taste”.
Planted co-founder Christoph Jenny said: “We are delighted to have two co-leads on board, who are well-known for their unique track-record working with consumer-centric ventures and have a deep understanding of the food-tech market, especially alternative proteins.”
Michael Kleindl, founder and managing partner of Switzerland-based Blue Horizon Ventures, will join the Planted board.
Founded in 2019, Planted has a range of meat-alternative products including faux chicken and kebabs. It uses ingredients such as peas and oats.
The company's products are listed in more than 3,000 retail locations in Switzerland, including the stores of major grocers Coop and Migros. They are also sold in Germany, via Edeka, and in Austria through Spar.
Planted also supplies the foodservice channel and offers B2C sales through its web shop.
It launched its first product, a chicken alternative made from pea protein and pea fibre, in the spring of 2019.