Impossible Foods Closes $500 Million in New Funding

Nov. 23, 2021
Maker of analogue meats also claims record growth.

Impossible Foods today (Nov. 23) announced it secured another half-billion dollars in its latest funding round, led by existing investor Mirae Asset Global Investments with participation from other existing Impossible Foods investors.

The company, founded on a plant-based burger, now has raised close to $2 billion since its founding in 2011. Also today it claimed to be "the fastest-growing plant-based meat company in retail, outpacing the next 10 leading plant-based meat companies combined, according to custom IRI research."

"This funding round will enable its continued growth in retail and across its supply chain, product portfolio, technology platforms, and international expansion plans — all of which are critical to its mission of addressing the urgent threat of climate change caused by animal agriculture," said a company statement.

Impossible Foods’ previous investment rounds included a $500 million round in March 2020, which was also led by Mirae, followed by an additional $200 million round in August of 2020 led by Coatue.

The company also claimed "a record burst of new product launches … over a four-month period — including sausage, chicken nuggets and pork," and meatballs added just this week.

Impossible Foods also has added four new international markets over the past 14 months: Canada, the United Arab Emirates, Australia and New Zealand. The company claims its products are in about 22,000 grocery stores, up from only 150 stores in March of 2020, as well as in close to 40,000 restaurants globally.

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