Planted Foods, a spin-off of the Swiss Federal Institute of Technology (ETH) Zurich and leading producer of sustainable and plant-based meat alternatives, has successfully closed a series B financing round in the amount of CHF 70 million.
The Swiss-based foodtech startup is known for its clean-label biostructured meat. Founded in July 2019, the ETH Zurich spin-off Planted uses its novel biostructuring approach (i.e. the combination of protein structuring and fermentation) to produce meat from alternative proteins such as peas, oats and sunflower, focusing on the perfect bite with exclusively natural ingredients. Planted will use the funding to launch a new line of products for so-called whole cuts, such as a plant-based chicken breast, as well as further international expansion and increased production capacity.
The financing round was led by L-Catterton. Additional investors included Vorwerk Ventures, re:food, Movendo, Be8 Ventures, ACE, ETH Foundation, Yann Sommer as well as Tengelmann Ventures.
Niederer Kraft Frey has acted as Swiss counsel to L Catterton on its investment in Planted Foods as part of the company’s Series B financing round as we have announced last September 1st.
The Walder Wyss team was led by Florian Gunz Niedermann (partner, corporate/m&a, pictured) and Marion Bähler (managing associate, corporate/m&a) and further included, Letizia Schlegel (associate, corporate/m&a), Carmen Spichiger (associate, corporate/m&a) and Fabienne Limacher (partner, tax).