Bird & Bird advises Planet A Foods on $30 million financing round
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International law firm Bird & Bird has advised Munich-based food technology company Planet A Foods on its US$30 million Series B financing.
The financing round was led by Burda Principal Investments and Zintinus, with participation from World Fund, Bayern Kapital, Cherry Ventures, Tengelmann Ventures, AgriFoodTech Venture Alliance and Omnes Capital.
Planet A Foods was founded in 2021 and employs around 60 people. Using the most innovative preparation processes, they develop sustainable, future-oriented food ingredients that can be produced with no dependence on highly limited resources such as cocoa. The company relies exclusively on natural ingredients. As a supplier, Planet A Foods contributes to a socially responsible and environmentally friendly food industry. The start-up's portfolio includes the world's first cocoa-free chocolate alternative ChoViva, which is made from sunflower seeds.
With this Series B financing, Planet A Foods plans to further strengthen its leading position in the sustainable food industry, accelerate its international expansion and scale production capacities both nationally and internationally.
The Bird & Bird team advising on the deal consisted of Counsel Andrea Schlote and associate Louisa Graf, LL.M. (both leading, Munich), partner Dr. Stefan Gottgetreu (Düsseldorf) and associate Kilian Hummel (Frankfurt) (all Corporate).
Planet A Foods was advised in cooperation with the US law firm SSM Law in San Francisco.