Planet A Foods Secures Series B Funding to Expand Cocoa-Free Chocolate Production
Deal News | Dec 06, 2024 | Cherry Ventures GmbH
Planet A Foods, a company specializing in cocoa-free chocolate alternatives with a lower carbon footprint, has successfully closed a $30 million Series B funding round. The funding was led by Cherry Ventures GmbH, which invests in innovative food technology startups. This significant financial milestone will enable Planet A Foods to scale up production of its environmentally friendly chocolate substitute, potentially impacting the confectionery industry by offering a sustainable and eco-friendly alternative to traditional cocoa-based products.
Sectors
- Food Technology
- Sustainability
- Private Equity
Geography
- Germany – Cherry Ventures GmbH, the lead investor, is based in Germany.
Industry
- Food Technology – Planet A Foods operates within the food technology sector by offering innovative, sustainable chocolate alternatives.
- Sustainability – The company's focus on lower carbon chocolate alternatives emphasizes its alignment with the sustainability industry.
- Private Equity – Cherry Ventures' involvement as a lead investor in the funding round represents activity in the private equity sector.
Financials
- $30 million – The amount raised by Planet A Foods in its Series B funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Planet A Foods | Target Company | Company | Producer of cocoa-free, lower carbon chocolate alternatives. |
| Cherry Ventures GmbH | Lead Investor | Company | A private equity firm investing in innovative startups. |