Planted announced raising CHF 17 million from Vorwerk Ventures and Blue Horizon Ventures

Planted, a Zurich, Switzerland-based producer of plant-based meat substitutes, announced securing funding of CHF 17M ($18.3M).

The money was raised from a range of investors including Vorwerk Ventures and Blue Horizon Ventures, as well as angels Yann Sommer and Stephan Schmidheiny, Good Seed Ventures, the Gaydoul Group, the ETH Zurich Foundation and Joyance Partners.

The equity is complemented by a package of debt financing backed by Credit Suisse.

The financing is to fuel the international expansion of the company.

Planted, founded in 2019 as a spin-off of ETH Zurich by Pascal Bieri, Lukas Böni, Christoph Jenny and Eric Stirnemann, produces and sells plant-based food. The company has a presence in more than 3,000 retail locations across Switzerland, Germany and Austria, and works with restaurant and food service partners as well.