European food-tech company Planet A Foods has closed a $30 million Series B equity funding round to support its international expansion and scaling of production capacities.

Founded in 2021 by siblings Sara and Maximilian Marquart, Planet A Foods produces cocoa-free chocolate alternatives that aim to address the environmental challenges of traditional cocoa farming.

ChoViva, its flagship product, is made from sunflower seeds and is designed to offer chocolate’s rich, indulgent taste and texture without the use of cocoa, easing pressure on the cocoa supply chain.

Headquartered in Munich, Germany, Planet A has partnered with major retailers and food businesses including Lambertz, Lindt, Rewe Group and Duetsche Bahn, with its ingredient now featured in over 20 products.

Following successful launches in Germany, Austria and Switzerland, the company is set to debut in the UK and France in the first quarter of 2025. The latest investment round will enable Planet A to scale production from 2,000 to over 15,000 tons annually, leveraging both its own facilities and strategic partnerships to meet demand.

Burda Principal Investments and Zintinus led the round, with participation from World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, BayWa Venture and Omnes Capital.

Maximilian Marquart, CEO and co-founder of Planet A Foods, commented: “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 start-up – we’re now on the way to becoming a leading food-tech player reshaping the sustainable food industry.”

He added: “Our mission remains unchanged: to provide sustainable 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.”

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