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Impossible Foods Just Raised $75 Million for Its Plant-based Burgers

Accepted submission by Phoenix666 at 2017-08-02 19:54:57
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Impossible Foods [impossiblefoods.com], the six-year-old, Redwood City, Ca.-based company known for its “juicy” meatless burgers, quietly announced $75 million in funding late last week [techcrunch.com], 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 [crunchbase.com], 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 [eastbaytimes.com] 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.


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