Planet A Foods Raises $30M to Scale Cocoa-Free Chocolate Alternative with 80% Less Carbon Footprint

Planet A Foods, a food technology company, has secured $30 million in funding to scale up production of their cocoa-free chocolate alternative, ChoViva. This innovative product offers a solution to the environmental challenges faced by the $130 billion chocolate industry, including deforestation and rising cocoa prices. ChoViva, made from sunflower seeds through a proprietary fermentation process, has already gained traction in German-speaking markets and is set to expand into the UK, France, and potentially the US and Asian markets in 2025.

The funding round, oversubscribed and led by Burda Principal Investments and Zintinus, will allow Planet A Foods to increase their production capacity from 2,000 to 15,000 tons annually. Partnerships with companies like Lindt and Rewe Group demonstrate growing interest in sustainable food solutions, with ChoViva being featured in private-label products. With a commitment to reducing carbon emissions and providing alternatives to the traditional cocoa industry, Planet A Foods aims to lead the way in reshaping the sustainable food industry on a global scale.