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$336.000 -0.74%
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$216.000 -0.92%
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By Agroempresario.com
In a shifting food tech landscape where capital is increasingly cautious, California-based Planetarians, a pioneer in upcycled alternative proteins, has announced it will shut down operations and auction its assets and IP on August 7. The company seeks a strategic buyer willing to expand and further commercialize its de-risked, market-validated technology, which transforms spent brewer’s yeast and agricultural byproducts into cost-effective, clean-label plant-based meat.
“This isn’t a liquidation; it’s a strategic transition,” emphasized Aleh Manchuliantsau, founder and CEO of Planetarians. “We’re specifically seeking acquirers who will actively utilize and develop this technology further.”
Founded in 2013, Planetarians originally focused on turning defatted sunflower seeds into protein-rich snacks and pasta. However, the company shifted to meat alternatives, driven by its patented fermentation and extrusion process using spent yeast—a protein-rich byproduct of the brewing industry.
With $8 million in total funding—including a $6 million seed round in 2023 led by Mindrock, Traction Fund, Techstars, SOSV, and ZX Ventures (the venture arm of AB InBev)—Planetarians established an 11,500 sq. ft. pilot facility in Hayward, California.
Despite promising foodservice partnerships and white-label agreements, the company failed to raise the additional capital needed for full-scale commercialization.
Speaking to AgFunderNews, Manchuliantsau stressed that the company’s downfall was not due to product failure, but due to the capital-intensive nature of manufacturing innovation in the current risk-averse investment climate.
“We built something remarkable—a patented process that makes plant-based meat 5-10x cheaper while achieving 10x better sustainability metrics than conventional plant proteins,” he said.
“We had retail velocities 2-4x faster than competitors, 85% repeat purchase in foodservice, and $141K in 2024 school sales alone.”
He added that their products were distributed nationwide via Sysco and US Foods, under the Lusty Bits & Strips brand and through private-label partnerships.
On August 7, Planetarians will auction a portfolio of physical and intellectual assets, including:
A memo circulated among potential buyers frames the opportunity as a “strategic shortcut to market-ready solutions” in alt-protein, clean-label innovation, and CPG cost reduction.
While Planetarians built its brand on meat alternatives, Manchuliantsau believes the technology has broader implications:
“Our SpyGlass AI platform can be used to create better-for-you versions of any food product. Think chocolate bars with 25% less sugar and 18% lower cost, or ramen with 32% more protein and 55% less sodium.”
The technology’s appeal lies in its scalability, ingredient transparency, and its use of underutilized byproducts. It also offers a sustainability advantage, cutting waste and lowering carbon footprints by avoiding conventional soy or pea protein supply chains.
Unlike typical tech or asset sales, Planetarians offers a 6-9 month strategic advisory commitment from founder Aleh Manchuliantsau. This ensures continuity of tacit knowledge, operations, and product development for the buyer.
“This addresses one of the most critical risks in IP acquisition: the loss of the ‘secret sauce’—how to actually make the technology work in real life,” the memo explains.
Planetarians joins a growing list of plant-based protein startups that have faced market headwinds due to high capital requirements, sluggish sales, and increased scrutiny of alt-meat health claims.
Yet unlike others, Planetarians exits the scene with market traction, distribution infrastructure, and verified sustainability claims—but without the deep-pocketed investors needed to bridge the scale-up gap.
Manchuliantsau sees this as a pivot point for food innovation, rather than a failure. He remains optimistic that the right buyer can turn Planetarians’ IP into a category-defining platform across alt-meat and beyond.
“The real opportunity here extends beyond plant-based meat. It’s about fundamentally rethinking how we use food waste and industrial byproducts to make better food—cheaper, healthier, and more sustainable,” he said.
For companies in the CPG, alt-protein, or ingredient innovation sectors, acquiring Planetarians’ assets offers an accelerated entry into a high-impact, validated technology space with relatively low risk and substantial upside.
