Until recently, chocolate without cocoa and palm oil was unthinkable. With Choviva, the Munich-based start-up Planet A Foods has developed a chocolate alternative that not only manages without cocoa and palm oil, but also saves large amounts of CO₂ during production. The company, which was founded in Planegg in 2021, has now raised 30 million US dollars as part of a Series B financing round to further increase the production of cocoa-free chocolate.

The company relies on local raw materials such as oats and sunflower seeds to produce its cocoa-free chocolate. To this end, it has developed a technology platform for the fermentation of plant-based ingredients, which allows flavors to be recreated naturally from local plants. Through fermentation and roasting, cocoa-free chocolate is created from a Choviva concentrate and Choviva butter. Choviva also has a carbon footprint that is up to 80% lower than conventional chocolate, the company reports.

Increase in annual production to 15,000 tons

With its idea, the team led by founders and siblings Sara and Maximilian Marquart was able to attract new investors in February of this year and secure 14.1 million euros for the further development of its technology platform. According to the food tech start-up, it intends to use the newly raised capital to increase its annual production capacity from the current 2,000 tons to over 15,000 tons in order to meet rising demand. The company also wants to expand further. After Germany, Austria and Switzerland, Choviva products are also to be launched in the UK and France from the first quarter of 2025. According to the company, strategic partnerships are also being planned for the USA and Asia. A production facility is to be opened in the USA.

Tapping into new markets

“This Series B round marks a significant milestone for us,” says Maximilian Marquart, CEO and co-founder of Planet A Food. “With 30 million dollars in fresh capital and a market-leading product, Planet A Foods is no longer a start-up – we are on our way to becoming a leading player in the market. This funding will allow us to enter new markets, increase production and supply our partners on a large scale.” 

Supporting the global development of climate-resilient food systems

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. “We are delighted to support Planet A Foods in its growth, market expansion and the development of climate-resilient food systems on a global scale,” says Julian von Eckartsberg, Managing Director of Burda Principal Investments. Christian Neuss, Partner at Zintinus, adds: “Planet A Foods combines scientific excellence with a clear focus on sustainability. Scaling innovations like Choviva at scale is a huge challenge and we are convinced that the right support is crucial to realize the full potential.”

Choviva products were first launched in German supermarkets in 2023. With companies such as De Beukelaer, REWE, Deutsche Bahn, but also Lindt and Lambertz, the start-up was able to gain important cooperation partners in Germany with its cocoa alternative. According to Planet A Foods, over 20 products are now available in more than 42,000 retail outlets.

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