Planet A Foods

Planet A Foods is a Germany-based startup that makes cocoa-free chocolate ChoViva (formerly NoCoa/QOA) via precision fermentation of oats and sunflower seeds. It then uses proprietary micro-bacteria and flavor formation processes to create a vegan product that mimics the texture and flavor of chocolate. In addition to Germany, ChoViva focuses on Austria and Switzerland, with expansion plans to the US in 2024.

Planet A Foods produces cocoa-free chocolates by blending cocoa-free ingredients: a cocoa powder substitute (ChoViva Concentrate) and a cocoa butter substitute (ChoViva Butter). ChoViva represents Planet Foods' debut cocoa-free chocolate product, created using Planet A Foods' cocoa concentrate alternative. The chocolate is produced in-house at Planet A’s facility in the Czech Republic. As of October 2023, the ChoViva range included 21 products with prices ranging from EUR 0.5 to EUR 9.95 (~USD 0.53 to USD 10.48).

Additionally, the company was in the process of developing its cocoa butter alternative through precision fermentation technology, using single-cell oils and fermentation byproducts. As of October 2023, the company was shipping this fat to early customers for R&D purposes.

The company asserts that its chocolate product could be 10x more sustainable, 20% cheaper, and emit about 92% less than conventional chocolate while also using 30% less sugar and 94% less water.

Key customers and partnerships

In April 2023, the company partnered with German online retailer Confiserie Seidl to launch ChoViva, its first sustainable chocolate line. The brand sees itself as a B2B player, after partnering with oat cereal maker Kölln on a new line of vegan mueslis using the company's cocoa-free chocolate in September 2023. In December 2023, ChoViva teamed up with Lindt to launch a special edition chocolate bar for Veganuary, named "Soft & Creamy Hazelnut.

In February 2024 , Planet A Foods partnered with REWE Group, Germany’s second-largest supermarket chain, to supply ChoViva for REWE Group’s own-label cocoa-free products.

Funding and financials

In its latest funding round in February 2024 , the company raised USD 15.4 million in Series A funding led by World Fund, with participation from Omnes Capital, Cherry Ventures, Nucleus Capital, and others. The funds were earmarked for additional scientist hires to bolster its 50-person team in Germany to increase the production of cocoa butter and palm oil alternatives on an industrial scale.