Company Raises $30 Million To Scale Up Cocoa-Free Chocolate

German B2B food tech startup Planet A Foods has secured $30 million in funding to scale up production of its cocoa-free chocolate brand, ChocoViva. The funding will support the company's international expansion efforts, including plans to launch ChocoViva products in the UK by 2025. This follows a successful $15.4 million Series A round earlier this year.

ChocoViva, made from sunflower seeds instead of cocoa, has been used in over 20 products sold in more than 42,000 European retail locations. The company aims to provide sustainable food ingredients that are decoupled from price volatility and limited resources such as cocoa. With up to 80 percent fewer carbon emissions than traditional chocolate, ChocoViva is part of a growing trend towards sustainable, ethical, and healthy alternatives to cocoa in response to declining yields, extreme weather, and global cocoa deficits.