Planet A Foods raises USD 15.4 million in Series A financing

Photo: Louisa Graf, LL.M., Asso­ciate at BIRD & BIRD in Munich
9. Febru­ary 2024

Munich — The inter­na­tio­nal law firm Bird & Bird has advi­sed the Munich-based food tech­no­logy company Planet A Foods on its Series A finan­cing in the amount of 15.4 million US dollars.

Planet A Foods is a leading company in the field of sustainable food tech­no­logy with the aim of revo­lu­tio­ni­zing the choco­late indus­try. The company has deve­lo­ped its paten­ted ChoViva product with the mission of offe­ring consu­mers world­wide a climate-friendly alter­na­tive to cocoa. Led by the World Fund, this finan­cing round marks a signi­fi­cant mile­stone for Planet A Foods as the company looks to bring its climate-friendly cocoa alter­na­tive ChoViva to a wider custo­mer base.

With the Series A finan­cing, Planet A Foods plans to increase its produc­tion capa­city to meet the growing demand for its cocoa alter­na­tive. The company is also aiming to expand its market beyond Germany, Austria and Switz­er­land to include choco­la­tiers in the UK and the USA. Planet A Foods also intends to address other envi­ron­men­tal issues in the food indus­try, parti­cu­larly palm oil, which is asso­cia­ted with defo­re­sta­tion and harmful emissions.

Consul­tant Planet A Foods: Bird & Bird

Asso­ciate Louisa Graf, LL.M. (Lead, Munich), Part­ner Dr. Stefan Gott­ge­treu (Düssel­dorf), Coun­sel Andrea Schlote (Munich), Asso­ciate Benita Schild (Düssel­dorf) (all Corpo­rate), Part­ner Dr. Ralph Panzer, Coun­sel Sandy Gerlach, Asso­ciate Cara-Marlene Fuchs (all Employ­ment Law, Munich), Part­ner Dr. Markus Körner (IP, Munich), Part­ner Dr. Rolf Schmich (Tax Law, Frankfurt).

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