Impossible Foods, the six-year-old, Redwood City, Ca.-based company known for its "juicy" meatless burgers, quietly announced $75 million in funding late last week, led by Temasek, with participation from Open Philanthropy, as well as earlier investors Bill Gates, Khosla Ventures and Horizon Ventures.
The company says it isn't providing further financial details but the round brings Impossible's funding to nearly $300 million, including earlier rounds that have included GV, Viking Global Investors and UBS.
Impossible's burgers are made with soy leghemoglobin, a protein that carries heme, an iron-containing molecule that occurs naturally in every animal and plant.
The company has said it wants to replace a number of animal products with goods engineered from plants, but for now, it seems squarely focused on getting more of its burgers into the world. Part of that strategy involved opening a factory in Oakland, Ca., in May, where it expects to be producing 1 million pounds of ground "plant meat" each month.
Thought the race was on to have us eat insects.
(Score: 0) by Anonymous Coward on Friday August 04 2017, @07:56PM (1 child)
falling for a clever PowerPoint presentation.
It couldn't have involved serving burgers made with the product they were evaluating. That would have made too much sense.
Something something fool and his money...
Yeah, because we all know how foolish Bill Gates is with his money . . .
(Score: 1, Interesting) by Anonymous Coward on Friday August 04 2017, @11:30PM
Yeah, because we all know how foolish Bill Gates is with his money
I would not worry about where he invests his money. He has so much of it a loss of 75 million would be a 'woopse' not a life changing event. Even then he actually split the risk with a bunch of other investors.
People with that sort of money do NOT invest like you or I. They invest in hundreds of things. If 9 fail and one gets a home run they come out ahead. They do it all the time. They are playing the odds. He is also playing the odds with trying to change the world with his money. He plays it that way because just the act of him investing creates price distortions. Warren Buffet has the same issue. BTW together those two have cornered the rail markets in Canada and most of the midwest. If it looks like this may take off look to his buddies to try to buy out the supply chain. He is one of the most ruthless businessman our world has ever created and makes Trump look like he is playing with tinker toys.