Impossible Foods has confirmed that it has secured approximately USD500m 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. The industry-leading food-tech startup has raised nearly USD1.3bn since its founding in 2011.
Impossible Foods will use the funds in part to invest in fundamental research and innovation; accelerate its manufacturing scaleup; expand its retail presence and its availability in key international markets; and accelerate commercialization of next-generation products including Impossible™ Sausage Made from Plants and Impossible™ Pork Made from Plants.
“Our mission is to replace the world’s most destructive technology — the use of animals in food
production — by 2035,” said Dr. Patrick O. Brown, M.D., Ph.D., founder and CEO of Impossible Foods. 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 recognize an extraordinary opportunity to invest in the platform that will transform the global food system.”