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

Planet A's ChocoViva product is made using sunflower seeds instead of cocoa beans

15th December 2024

3 Minutes Read

German B2B food tech startup Planet A Foods has raised USD $30 million to scale up production of its cocoa-free chocolate brand ChocoViva.

This boost in production capabilities is required for further international expansion, including the company’s planned UK launch of ChocoViva products in 2025.

Burda Principal Investments and Zintinus led the $30 million Series B Equity funding round with participation from World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, and more. This follows a successful $15.4 million Series A round in February of this year.

“With $30m in fresh funding and an industry-leading product, Planet A Foods is no longer just a startup – we’re now on the way to becoming a leading foodtech player reshaping the sustainable food industry,” said CEO Dr Maximilian Marquart, as reported by The Grocer.

ChocoViva is already used in more than 20 products in over 42,000 European retail locations, including products like M&M-style peanuts, chocolate cereal, layered wafers, and whole bars, produced by brands like Lindt, Rewe Group, Lambertz, and Stella Bernrain.

“Our mission remains unchanged: to provide sustainable food ingredients that are decoupled from price volatility and limited resources such as cocoa,” added Marquart.

The search for sustainable chocolate

Photo shows some of the products made with Planet A's cocoa-free chocolate, ChocoViva — Daniel Schvarcz ChocoViva cocoa-free chocolate is included in more than 20 snack foods already on the market, including M&M-style peanuts, chocolate cereal, layered wafers, and more

Planet A Foods says that ChocoViva, which is made from sunflower seeds instead of cocoa, produces up to 80 percent fewer carbon emissions than traditional chocolate. The company is not the only one working on sustainable, ethical, and healthy alternatives to cocoa.

In November, UK-based startup Nukoko partnered with German ingredients manufacturer Döhler to scale its fava bean-based chocolate. The companies said at the time that swapping cocoa for “robust” domestic beans like fava could cut emissions by 90 percent.

Declining yields, extreme weather, and a cocoa deficit have also led to surging prices. A global move away from cocoa could help mitigate this, in addition to the various environmental and human rights issues linked to global chocolate production.