Munich-based Planet A Foods bags €28.3M to scale production of its cocoa-free chocolate alternative

Munich-based Planet A Foods, a company specialising in sustainable ingredients for the food industry, has raised $30M (approximately €28.35M) in a Series B round of funding.

The round was co-led by Burda Principal Investments and Zintinus, with participation from several investors, including World Fund and Cherry Ventures.

Daria Saharova, Founding Partner at World Fund, says, “Building world-class food tech is critical for the future of our planet. We urgently need to stop overfarming threatened natural resources like cocoa, yet scaling sustainable alternatives has proven difficult for most.”

“Planet A Foods is an exception. Since we invested in the company in 2021, Sara and Max have established partnerships with top-tier customers, including REWE, Lindt and Lufthansa, and seen their moorish ChoViva products fly off shelves.”

“They raised one of the largest rounds in food tech this year despite a wider downturn in investment in the sector, and have delivered non-stop growth – feats that are a testament to this peerless founding team.”

What does Planet A Foods offer?

According to a statement from Planet A Foods, the $130M global chocolate industry is facing significant challenges, including climate change threatening cocoa supplies, environmental damage from conventional farming, and volatile cocoa prices, all contributing to uncertainty for both producers and consumers.

In response to these issues, Planet A Foods, founded in 2021 by siblings Dr. Sara Marquart and Dr. Maximilian Marquart, has introduced ChoViva—a cocoa-free chocolate alternative made from sunflower seeds.

ChoViva delivers the same rich taste and texture as traditional chocolate but with up to 80 per cent fewer carbon emissions. 

The product, produced through a proprietary fermentation process, uses locally sourced sunflower seeds and has been integrated into over 20 products, by partners such as Lambertz, Lindt, Rewe Group, and Deutsche Bahn. 

Dr. Sara Marquart, CTO and co-founder, says, “At Planet A Foods, we believe the future of food must be sustainable, ethical, and scalable. ChoViva empowers producers to create 100 per cent cocoa-free products, reducing reliance on vulnerable supply chains and making a tangible impact on the environment.”

“This Series B allows us to scale our impact and strengthen our position as the go-to partner for sustainable chocolate innovation.”

Planet A Foods has secured collaborations with major confectionery and FMCG brands. Its ChoViva products debuted in German supermarkets in 2023 and are now in over 42,000 retail stores across Europe. The company recently launched a Dubai bar with Seidl Confiserie.

Capital utilisation

Planet A Foods looks to bolster its leadership in sustainable food innovation, supporting its international expansion and scaling of production capacities. 

Following its product launches in Germany, Austria, and Switzerland, the company plans to enter the UK and France in early 2025. Strategic partnership discussions are underway for the US and Asia.

The funding will enable the company to increase its production from 2,000 to over 15,000 tons annually, leveraging both its own facilities and strategic partnerships to meet rising demand.

Julian von Eckartsberg, MD of Burda Principal Investments, says, “Our investment in Planet A Foods reflects our commitment to supporting groundbreaking solutions that address critical global challenges like sustainable food production.”

“We are excited to support Planet A Foods in scaling their business and expanding their brand ChoViva into new markets, driving growth, and building more resilient, climate-conscious food systems and supply chains in general on a global scale.”

Dr. Maximilian Marquart, CEO and co-founder of Planet A Foods, adds, “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 sustainable food industry.”

“Our mission remains unchanged: to provide sustainable food ingredients that are decoupled from price volatility 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.”