Planted is a Swiss foodtech startup known for making meat using alternative proteins in a natural bio-structured form. Recently, Planted received $72M in Series B funding led by L Catterton, a global private equity firm in the consumer goods sector.
Investors including Tengelmann Ventures, Yann Sommer, Joyance, Gullspång Re:food, Movendo and the ETH Zurich Foundation participated in the investment. Existing investors also participated in the investment, including Vorwerk Ventures.
The company plans to use the funding to launch a new product line called Whole Cuts, such as a plant-based chicken cutlet. They also plan to accelerate their international expansion and increase production capacity.
Planted is the fastest growing alternative protein company in Europe, according to Christoph Jenny, co-founder of the company. Planted has a strong track record in its young established markets in France, Germany, Switzerland and Austria. Good development has also been seen in newer markets such as Italy and the United Kingdom, said Christoph Jenny. With extra funding from investors, further international growth will be accelerated. Additionally, Planted plans to expand their product line with Whole Cut products and build another production facility.
Producing Meat With Protein
Planted is a spinoff of ETH Zurich that was founded in 2019. Using only natural ingredients, its novel biostructuring approach produces meat from peas, oats, and sunflowers.
Planted claims their meat is better because of their proprietary biostructuring technology. This term combines protein structuring with fermentation, which allows them to develop meat with bigger pieces and more intricate structure, texture, juiciness and tenderness.
Planted merchandise can be purchased at restaurants, retail shops, Switzerland, Germany, France, Italy and the UK. They recently started selling their products online through a pan-European web store.
Jenny adds, “ Plant-based meats can only replace about one to three percent of meat consumption. This isn’t enough to significantly impact the food system. Consumers reject plant-based meats due to a poor taste, high price and questionable ingredients. If we want to convince meat eaters, we need to create ‘better meat than animal meat.’ This means creating meats with a better taste, lower price and reduced environmental impact. We always focus on these parameters when developing new products.”
In a glass-sided building, Kemptthal is the first transparent meat production facility open to the public. All products are produced in this facility by a Swiss company.
Plant Meat Co. announced in May of 2022 that their production capacity had doubled from one ton per hour to two tons per hour.
The Chicken Tenders, Patties and Chicken Breast are the first larger Whole Cut meats available to consumers. They are due to release to food service providers first; retail availability will come shortly after that. These products don’t contain any additives and are in the final stages oflaunch. Jenny says that their chicken breast launch will take place in September 2022. This event will be coordinated with famous chef Tim Ray and will be available at his restaurant. Additional launches will follow this one in the food service industry, says Jenny.
Michael Farello, managing partner of L Catterton Growth Fund, says, “We are pleased to partner with Planted to advance the way protein-heavy foods and meats are consumed around the world.” Planted’s products are inspired by nature, and they don’t contain any artificial ingredients. Additionally, these foods are easy to incorporate into people’s day-to-day lives— making them a powerful lever for promoting human health and ecological stability. We believe that as more people across the globe embrace alternative proteins in their diets, Planted will continue growing as a company.