• General
  • August 13, 2020
  • 4 minutes read

Impossible Foods Nabs $200 Million Round

Impossible Foods Founder & CEO Patrick Brown. Photo credit: Steve Jennings/Getty Images for TechCrunch, under Creative Commons license Impossible Foods,…

Impossible Foods Founder & CEO Patrick Brown.

Photo credit: Steve Jennings/Getty Images for TechCrunch, under Creative Commons license

Impossible Foods, the company popularly known for developing plant-based substitutes for meat products, has announced that it’s secured $200 million in additional funding led by Coatue Management, a tech-focused investment firm. The new funding adds up the total amount that Impossible Foods has raised since its inception to about $1.5 billion. Alongside Coatue, existing investors such as Temasek and Mirae Asset Global Investments also participated in the new funding, which notably follows a $500 million single round that Impossible Foods closed in mid-March of this year.

Impossible Foods says it’ll put the new capital towards research and development as well as expanding its manufacturing operations and retail presence across the US. Already, Impossible’s products are on sale at thousands of grocery stores across the US, including major chains such as Walmart, Kroger, and Trader Joe’s. The company says its retail footprint has increased more than 60X in the past six months alone.

Impossible’s best-known product is the Impossible Burger, a burger made from plant-based ingredients. The company, however, recently launched the Impossible Sausage, marking its second all-new flagship product since the burger was released in 2016. Already, the Impossible Sausage is being served at more than 22,000 restaurants across the US.

Impossible Foods was founded in 2011. Throughout his history, the company has raised funding from prominent venture capitalists and likewise individual celebrities such as Shawn “Jay-Z” Carter, Jaden Smith, Trevor Noah, Katy Perry, and Serena Williams.




Leave a Reply

Your email address will not be published. Required fields are marked *