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Vegan Meat Producer Impossible Foods Raises $500 Million In Funding
American plant-based meat manufacturer Impossible Foods announced it raised about $500 million. The latest Series F funding round was led by new investor South Korea's Mirae Asset Global Investments. Other investors in this round incl...
American plant-based meat manufacturer Impossible Foods announced it raised about $500 million.
The latest Series F funding round was led by new investor South Korea's Mirae Asset Global Investments.
Other investors in this round include Khosla Ventures, Horizons Ventures, and Temasek.
The newest funds will help the company expand its production capacity.
Currently, Impossible Foods produces plant-based burgers, sausages and vegan pork mince.
The announcement comes as the coronavirus outbreak hits the U.S. with schools and businesses closing and consumers emptying shelves at supermarkets.
The plant-based meat producer says it has experienced “no material impacts” on its business due to the coronavirus outbreak.
“With what’s happening in the world, it’s important to reassure our customers that we are built to withstand short-term shocks,” Impossible Foods Chief Financial Officer David Lee said.
“We’re able to stand tall. We have the ability with long-term investors.
"Whatever the headlines are, we have the means to withstand short term shocks and realize our long term mission," Lee said.
The latest round brings the total raised by Impossible Foods to $1.3 billion.
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