Planet A Foods receives USD 30 million

Chocolate enjoyment without cocoa? Local sunflower seeds instead of rainforest deforestation - Planet A Foods makes chocolate more sustainable.

Landshut/Munich, December 9, 2024 - Bayern Kapital, the venture and growth capital company of the Free State of Bavaria, has invested 30 million US dollars in Planet A Foods as part of a Series B financing round. Founded in 2021, the foodtech startup develops sustainable alternatives to traditional food ingredients, including the world's first chocolate alternative without cocoa beans. The financing round was led by Burda Principal Investments and Zintinus. Other investors include Tengelmann Ventures, AgriFoodTech Venture Alliance and existing backers such as World Fund, Cherry Ventures and Omnes Capital.

Sustainable chocolate with a local approach

Planet A Foods uses innovative fermentation and roasting technologies to process plant-based ingredients - such as locally grown sunflower seeds - into chocolate alternatives. The flagship product ChoViva offers an environmentally friendly alternative to conventional chocolate: it saves around 80 percent CO₂, reduces supply chain dependencies and eliminates the need for rainforest clearing for cocoa plantations.

Our technology addresses one of the most pressing challenges facing the global food industry: sustainability and security of supply

Dr. Maximilian Marquart, CEO and co-founder of Planet A Foods

Successful market entry and expansion plans

ChoViva can already be found in over 20 products and is available in more than 40,000 European stores. Its partners include well-known companies such as Deutsche Bahn, Lindt and Lufthansa.

The prospects for sustainable food production are enormous - both ecologically and economically.

Monika Steger, Managing Director of Bayern Kapital

Planet A Foods intends to use the new financing to drive forward its international expansion, particularly in France, the UK and the USA. At the same time, production capacities are to be expanded and new product innovations - including an alternative to cocoa butter - are to be introduced.

In January 2024, we had already announced a successful Series successful Series A for 15.4 million dollars of the start-up. It seems that Planet A Foods is still on course for success.