B2B foodtech startup Planet A Foods has raised a further $30m to fund international expansion, including a launch into the UK in 2025.
The producer of cocoa-free chocolate alternative brand ChoViva has completed the $30m Series B equity funding round to boost its production capabilities ahead of international expansion.
The round was co-led by Burda Principal Investments and Zintinus, with participation from World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, AgriFoodTech Venture Alliance and Omnes Capital.
The Germany-based company secured $15.4m (£12.2m) in Series A funding earlier this year.
Founded in 2021 by siblings Dr Sara Marquart and Dr Maximilian Marquart, Planet A Foods produces cocoa-free chocolate made from sunflower seeds.
This innovation, the company says, delivers up to 80% fewer carbon emissions compared with chocolate, supporting the fight against climate change and the environmental challenges of traditional cocoa farming.
ChoViva is featured in over 20 products and has won industry partners including Lambertz, Lindt, Rewe Group and Deutsche Bahn.
Following successful product launches in Germany, Austria, and Switzerland, the company is set to debut in the UK and France in the first quarter of 2025.
This latest investment will enable Planet A Foods to scale production from 2,000 to over 15,000 tonnes annually, leveraging both its own facilities and strategic partnerships to meet strong demand.
“With $30m in fresh funding and an industry-leading product, Planet A Foods is no longer just a startup – we’re now on the way to becoming a leading foodtech player reshaping the sustainable food industry,” said CEO Dr Maximilian Marquart.
“Our mission remains unchanged: to provide sustainable food ingredients that are decoupled from price volatility and limited resources such as cocoa. This funding will enable us to further expand into new markets, ramp up production, and deliver at scale to global confectionery giants.”
Julian von Eckartsberg, MD of Burda Principal Investments, added: “Our investment in Planet A Foods reflects our commitment to supporting groundbreaking solutions that address critical global challenges like sustainable food production.
“We are excited to support Planet A Foods in scaling their business and expanding their brand ChoViva into new markets, driving growth, and building more resilient, climate-conscious food systems and supply chains in general on a global scale.”
Daria Saharova, founding partner at World Fund, said: “Building world-class food tech is critical for the future of our planet. We urgently need to stop overfarming threatened natural resources like cocoa, yet scaling sustainable alternatives has proven difficult for most. Planet A Foods is an exception.
“Since we invested in the company in 2021, Sara and Max have established partnerships with top-tier customers including Rewe, Lindt and Lufthansa, and seen their moreish ChoViva products fly off shelves. They raised one of the largest rounds in food tech this year despite a wider downturn in investment in the sector, and have delivered non-stop growth – feats that are testament to this peerless founding team.”
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