Planet A Foods Raises $30M Series B to Industrialize and Solidify its Position as Leader in Food Ingredient Innovation
The B2B foodtech startup accelerates its international expansion, scaling production to meet surging demand for its brand ChoViva, the leading cocoa-free chocolate alternative.
Key Highlights:
Market Opportunity: The global chocolate industry, valued at $130 billion, is under pressure due to environmental and social costs of traditional cocoa farming.
The solution: With ChoViva, Planet A Foods offers an innovative, scalable solution: a cocoa-free chocolate alternative that delivers the same delicious taste and texture that consumers know and love – independent of cocoa supply chains.
Funding Amount: $30M, co-led by Burda Principal Investments (BPI) and Zintinus.
Production Capacity: Scaling production from 2,000 to over 15,000 tons of ChoViva per year in an IFS-certified facility and through strategic partnerships, ensuring consistent quality at an industrial scale.
Global Expansion: Successful product launches in Germany, Austria, and Switzerland, with the UK and France confirmed for Q1 2025. Strategic partnership discussions are underway for the US and Asia.
Innovative Products: Ongoing investment in R&D to expand the range of ChoViva recipes, and to develop a specialty fats solution, aimed at replacing cocoa butter.
Team Growth: Hiring world-class talent across R&D, production, and commercial functions to bolster the current team of 60+ experts.
Munich, Germany, December 6th 2024: Planet A Foods, the next-generation ingredient pioneer delivering future-proof ingredients to the food industry, today announced it has closed a $30 million Series B equity funding round. The funds will further strengthen Planet A Foods' leadership in food ingredient innovation, accelerating international expansion and the scaling of production capacities nationally and internationally.
Founded in 2021 by siblings Dr. Sara Marquart and Dr. Maximilian Marquart, Planet A Foods is redefining the future of chocolate with ChoViva, the world's leading cocoa-free chocolate alternative. Made from sunflower seeds, ChoViva offers the rich, indulgent taste and velvety texture that consumers love from chocolate – without the cocoa. This makes manufacturers independent of cocoa and its volatile supply chains. ChoViva is featured in over 20 products and trusted by major partners like Lambertz, Lindt, Rewe Group and Deutsche Bahn.
The round was co-led by Burda Principal Investments and Zintinus, with participation from World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, BayWa Venture and Omnes Capital. Driven by the growing demand for alternative ingredients, Planet A Foods is now setting its sights on dominating the global stage. 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 tons annually, leveraging both its own facilities and strategic partnerships to meet surging demand.
Dr. Maximilian Marquart, CEO and co-founder, declared: "This Series B round marks a major milestone for us. With 30 million dollars 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 food ingredient industry. Our mission remains unchanged: to provide future-proof food ingredients that are decoupled from price volatile 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."
A resilient solution for an industry under pressure
The global chocolate industry, valued at $130 billion, faces growing challenges from both environmental and economic pressures. Climate change threatens the long-term viability of cocoa supplies, while conventional cocoa farming contributes to deforestation, biodiversity loss, and significant carbon emissions. Additionally, the industry has been heavily impacted by volatile cocoa prices, increasing uncertainty for producers and consumers alike.
ChoViva offers an innovative, scalable solution: a cocoa-free chocolate alternative produced through a proprietary fermentation process using locally sourced sunflower seeds. This innovative process removes the dependency on cocoa, while significantly reducing the cost of material and delivering the same indulgent taste and texture that consumers love.
Dr. Sara Marquart, CTO and co-founder, commented: "At Planet A Foods, we believe the future of food must be resilient and scalable. ChoViva empowers producers to create 100% cocoa-free products, reducing reliance on vulnerable supply chains. This Series B allows us to scale our impact and strengthen our position as the go-to partner for cocoa-free innovation."
Industry-Leading Partnerships & Awards
Planet A Foods' rapid growth has already resulted in collaborations with confectionery and FMCG leaders. Key achievements include:
Retail Presence: ChoViva products debuted in German supermarkets in 2023 and are expanding rapidly across Europe, with over 20 products available in over 42,000 retail stores so far.
Award-Winning Innovation: Products featuring ChoViva have received numerous industry awards, including the New Product Showcase and Consumer Award at ISM, as well as the Bestseller Awards for most successful product innovations in 2024 by Rundschau für den Lebensmittelhandel in partnership with Peter Kölln and Griesson-de Beukelaer.
Brand Partnerships: Planet A Foods collaborates with leading brands such as Deutsche Bahn, Griesson - de Beukelaer, Lambertz, Lindt, Lufthansa, Peter Kölln, Piasten (Treets) and Stella Bernrain. Building on the latest trends, the newest product, a Dubai bar with ChoViva, was developed in collaboration with Seidl Confiserie.
With this latest funding round, Planet A Foods is primed to accelerate its growth, expanding its global footprint and strengthening its position as a leader in future-proof food ingredients. The company remains committed to its mission of providing innovative, resilient ingredients that meet the growing demands of the food industry, while tackling the challenges posed by limited resources such as cocoa.
