Plant-based food tech startup Impossible Foods has secure approximately USD500m in its latest funding round, led by existing investor Mirae Asset Global Investments with participation from other investors.
According to a press release, the new funding will support further retail and supply chain growth in the US with partners like Walmart, as well as international expansion plans. Four new international markets have been added over the past 14 months, including Canada, the United Arab Emirates and, most recently, Australia and New Zealand. Impossible says it will also focus on developing its product portfolio and technology platforms, all of which it considers “critical to addressing the urgent threat of climate change caused by animal agriculture”.
Confidence in the company has enabled it comfortably raised almost USD2bn since it was founded in 2011 by by Patrick O. Brown, professor emeritus of biochemistry at Stanford University. Recent investment rounds have been substantial: including USD500m in March 2020, followed by USD200m in August of 2020 led by Coatue.