Planted secures over $21M to expand its plant-based meat product range

Planted, a Swiss alternative protein firm, has reportedly announced that it has secured over CHF 19 million ($21 million) through its second round of funding this year, a "pre-B" investment that will enable it to continue to develop and launch new products.

According to reports, although a debut in the United States is planned in the future, the company’s exclusively European consumers can give its new vegetarian schnitzel a try for now.

Planted was founded in 2019 as a spinoff from ETH Zurich, a Swiss research institute where the creators discovered the unique technology of extruding plant water and proteins into fibrous structures which have the mouth feel of actual meat. Since then, the firm has expanded its protein sources to include oat and sunflower, and also developed kebab and pulled pork alternatives.

The procedure has also improved over time. Planted CEO and co-founder, Christoph Jenny, stated that the firm integrated fermentation/biotech technologies to improve taste and texture. This means, the company can construct structures with no restrictions on form, and also add a larger flavor profile.

The company’s latest innovation is the plant-based schnitzel, which is conventionally known world-over as a thin slice of meat pounded with a meat tenderizer and then breaded and fried. The dish is particularly popular across the company's main markets of Austria, Switzerland, and Germany.

Jenny also pointed out that the company’s schnitzel is made in a single piece instead of pressing smaller pieces together. The fermenting technique benefits the taste and texture, making the flavor profile ‘mouthwatering’ and the texture extremely ‘juicy’. However, Planted would need to test it to be sure that consumers like it. The Planted Schnitzel is expected to make its debut in Q3.

The firm intends to expand into many additional markets in Q3 and Q4, but US entry still remains uncertain owing to COVID-19 travel limitations. Jenny stated that they are ready to make that shift as soon as it is practicable, but for the time being, Planted is concentrating on the European market.

Source credit: https://techcrunch.com/2021/08/02/planted-raises-another-18m-to-expand-its-growing-plant-based-meat-empire-and-add-schnitzel/

Mateen Dalal:

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for cmferesearch.com and a few other portals. Channelizing his experience in the technical and manufacturing domains, Mateen attempts to bring forth his knowledge of the core industries in his articles.