Swiss biomanufacturing startup Planetary has raised $28 million in new funding. The goal is to grow its fermentation infrastructure and licensing platform. The company also aims to diversify its alternative protein products and expand globally.
The Series A round brought in 16 million Swiss francs ($20.4M). An additional six million francs ($7.6M) in credit was also secured. Total funding now stands at around 32 million francs ($41M). Lead investors included Radikal Capital and Oetker Ventures. Other participants were Royal Cosun, Arc Investors, Green Generation Fund, AgriFoodTech Venture Alliance, and existing backers like Astanor Ventures and XAnge.
With this funding, Planetary plans to reach several milestones in 18-24 months. These include expanding its international licensing business, achieving core profitability, and developing new products, says CEO David Brandes.
Planetary’s BioBlocks platform supports biomass and precision fermentation. It helps develop sustainable food and material solutions. The company converts agricultural byproducts into high-value proteins, fibers, and enzymes. Its licensing model partners with agro-industrial companies, especially sugar producers, to promote a circular bioeconomy.
Currently, the company focuses on mycoprotein. It aims to produce protein at ultra-low costs through partnerships in sugar-rich regions. The company already runs large-scale production in Switzerland. It has partnered with Schweizer Zucker, Cosun, and DBO.
Planetary also explores applications in meat alternatives, dairy substitutes, and pet food. The strains used may require regional certification, but regulatory hurdles are manageable.
Despite a tough funding environment, Planetary’s full-stack approach has proven its resilience. It covers bioprocessing, infrastructure, and distribution. The company plans a second funding round later this summer.
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- Source: https://worldbiomarketinsights.com/planetary-secures-28m-to-expand-sustainable-protein-fermentation/
