As part of their series B financing round led by L Catterton, a global consumer-focused private equity firm, Swiss food tech company Planted has raised 70 million Swiss francs ($71 million USD) that will be used to accelerate the growth and development of its natural bio-structured meat offerings.
Founded in 2019, the startup specializes in 100% plant-based meat that is vegan and made from natural ingredients such as pea protein.
According to Planted, their vegan meat is a much more sustainable alternative when compared to conventional animal meat thanks to using 74% fewer greenhouse gases and using 29% less water.
“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,” says Planted co-founder Christoph Jenny. “With the additional capital, we will further accelerate our international growth, expand our product range with a line of whole-cut products, and build an additional production site.”
“It is an honor to partner with Planted in its mission to revolutionize the way meat and protein-rich foods are consumed globally,” says Michael Farello, managing partner at L Catterton. “Not only are their products inspired by nature, but they are also free of unnatural ingredients, scalable, and able to be easily incorporated into consumers’ daily lives.”
“With food as a strong lever to promote human health and environmental stability, Planted directly contributes to creating a healthier and more sustainable food system,” adds Farello. “We have strong conviction in the company’s continued growth, as more people across the globe continue to adopt alternative proteins into their lives.”
