Planted Foods AG has raised 7 million Swiss francs in a seed financing round, announced a statement. Among the investors were Blue Horizon Corporation, Hiltl AG, Good Seed Ventures, MicaVentures and Joyance Partners.
Planted develops meat made with plant rather than animal protein. Its first product – Planted Chicken – is already on the market. The plant-based chicken is made from pea protein and water in a process using the startup’s technology to mimic the fibrous structure and juiciness of meat.
With the new funds, Planted plans to launch Planted Chicken on the European market and to introduce the Pulled Pork product line. To meet increasing demand, it is also planning to expand its production capacity. The goal is to process over ten times more plant protein into meat, according to co-founder Eric Stirnemann. In the medium term, the company wants to further strengthen research and development.