Planet A Foods Secures $30M to Expand its Sustainable Chocolate Innovation
Deal News | Dec 06, 2024 | Omnes Capital SAS
Planet A Foods, cofounded by siblings Dr. Sara Marquart and Dr. Maximilian Marquart, has closed a significant $30 million Series B funding round aimed at industrializing its innovative, eco-friendly cocoa-free chocolate alternative, ChoViva. As the global chocolate industry, valued at $130 billion, grapples with environmental and social challenges, Planet A Foods' cocoa-free chocolate offers up to 80% reduction in carbon emissions while maintaining the traditional taste and texture. The funding, led by Burda Principal Investments and Zintinus, along with key players like Omnes Capital, will enable Planet A Foods to scale production from 2,000 to over 15,000 tons annually. The company, already established in Germany, Austria, and Switzerland, plans to expand into the UK and France in 2025 and is exploring strategic partnerships for market entry in the US and Asia. As they scale, Planet A Foods is investing in R&D and expanding their team, maintaining strategic collaborations with brands like Lambertz, Lindt, and Deutsche Bahn. The backing reflects an industry-wide shift toward sustainable food solutions and positions Planet A Foods as a leader in the sector. ChoViva has gained significant traction with over 20 products across more than 42,000 retail outlets in Europe, praised for its innovation at industry showcases.
Sectors
- Food and Beverage
- Sustainable Agriculture
Geography
- Germany – The headquarters of Planet A Foods is in Munich, Germany. Additionally, the company has successfully launched ChoViva in German supermarkets and plans to expand its presence across Europe.
- United Kingdom – Planet A Foods plans to enter the UK market by Q1 2025 as part of its international expansion strategy.
- France – Along with the UK, France is a key target market for Planet A Foods’ expansion plans by early 2025.
Industry
- Food and Beverage – The article discusses Planet A Foods as a key player in the food industry, specifically focused on sustainable innovation in the chocolate segment by offering a cocoa-free alternative.
- Sustainable Agriculture – Planet A Foods is involved in sustainable practices by producing a chocolate alternative that reduces carbon emissions and addresses environmental concerns associated with traditional cocoa farming.
Financials
- $30M – The amount raised by Planet A Foods in the Series B funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Planet A Foods | Target Company | Company | A sustainable food technology firm focused on developing and expanding ChoViva, a cocoa-free chocolate alternative. |
| Omnes Capital | Investor | PE Firm | A private equity firm participating in the Series B funding round for Planet A Foods. |
| Burda Principal Investments | Lead Investor | Investor | A principal investment arm co-leading the Series B funding round for Planet A Foods. |
| Zintinus | Lead Investor | Investor | A venture capital firm co-leading the Series B funding for Planet A Foods. |
| World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, BayWa Venture | Investor | Investor | These are other investors involved in the Series B funding round. |
| Dr. Maximilian Marquart | CEO and Co-founder | Person | Co-founder and CEO of Planet A Foods, leading the company through its strategic growth phase. |
| Dr. Sara Marquart | CTO and Co-founder | Person | Co-founder and Chief Technology Officer of Planet A Foods, driving the technological and innovative aspects of the company's products. |
| Julian von Eckartsberg | Managing Director | Person | Managing Director of Burda Principal Investments, an investor in Planet A Foods. |
| Christian Neuss | Partner | Person | Partner at Zintinus, involved in supporting Planet A Foods through its growth. |