In This Article:
Alt-meat firm Planted Foods has secured investment from SevenVentures, the investment arm of German media company ProSiebenSat.1.
The financial details of the “media-for-equity investment” were not disclosed but SevenVentures said it has invested “a mid-single-digit million” sum.
The deal is not the first time SevenVentures has backed a meat-alternatives company. Last year, the fund invested in Tindle, then known as Next Gen Foods.
As part of the agreement, SevenVentures will support Planted with advertising campaigns on ProSiebenSat.1 channels and the Joyn streaming platform until the end of 2027.
SevenVentures CEO Florian Hirschberger said: “We want to use the reach of our digital and broadcasting portfolio to gain the trust of even more consumers and convince them of the quality and responsible production methods of Planted.”
Founded in 2019, Planted sells its products in European markets including Germany, France, Italy, Austria and the UK. It offers plant-based meats such as chicken, pulled, and kebab alternatives.
Planted co-founder and member of the management board Christoph Jenny added: “With TV advertising, Planted will continue to establish itself in the mass market as the trusted, sustainable, healthy and, above all, delicious plant-based meat brand.”
The company is headquartered in Kemptthal, Switzerland, where it also operates a glass production facility.
It plans to open another production plant in Memmingen, Germany, in 2025.
In September, SevenVentures invested in Formo, a Berlin-based start-up launching the “world's first” vegan cheese based on koji protein, available in Germany and Austria.
Nucao, a sustainable chocolate company and KoRo, which specialises in dried fruits and nut products, have also received investment from SevenVentures.
"Alt-meat firm Planted Foods gets investment from SevenVentures " was originally created and published by Just Food, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.