Total funding for the food tech start-up nears US$1.3 billion.
Impossible Foods announced that it has secured approximately US$500 million in its latest funding round, led by new investor Mirae Asset Global Investments, with participation from existing investors including Khosla Ventures, Horizons Ventures, and Temasek. To date, the food tech start-up has raised nearly $1.3 billion since its founding in 2011.
Impossible Foods will be using the funds in part to invest in fundamental research and innovation, accelerate its manufacturing scale-up, expand its retail presence and its availability in key international markets, and accelerate commercialisation of next-generation products including Impossible Sausage Made from Plants and Impossible Pork Made from Plants.
Dr Patrick O. Brown, founder and CEO of Impossible Foods, said: “Our mission is to replace the world’s most destructive technology – the use of animals in food production – by 2035. To do that, we need to double production every year, on average, for 15 years and double down on research and innovation.
“The market has its ups and downs, but the global demand for food is always there, and the urgency of our mission only grows. Our investors not only believe in our mission, but they also recognise an extraordinary opportunity to invest in the platform that will transform the global food system.”
