Planted, a Swiss Food Tech company, has launched a new fermented steak alternative developed using its proprietary whole-muscle platform. This product contains soy protein, rapeseed oil, bean and rice flour, and microbial cultures and claims to offer a high-protein content, fiber, B12, iron, and low saturated fat levels.

The whole-muscle platform uses a proprietary fermentation process to develop clean-label alternatives with improved taste and texture. The company intends to use this platform to expand its product range with more product concepts later. 

In addition, the company has increased its production capacity by opening a new facility in Kemptthal, Switzerland, and plans to launch its new steak alternative to direct-to-consumer and retail channels across Europe in 2024. 

Analyst QuickTake: In September 2022 , the company raised CHF 70 million (~USD 72 million) in Series B funding to launch a new whole-cut product range, further expand into Europe, and increase production capacity. Further, it received CHF 2 million (~USD 2.3 million) from the Innosuisse Swiss Accelerator , which was used for developing its new platform.