Impossible Foods raises another $500 million17 Mar 2020
Impossible Foods has secured approximately $500 million 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 food-tech startup has raised nearly $1.3 billion 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, 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."
“With this latest round of fundraising, Impossible Foods has the resources to accelerate growth -- and continue to thrive in a volatile macroeconomic environment, including the current COVID-19 pandemic,” said Impossible Foods’ Chief Financial Officer David Lee.
The new funding closely follows the launch of the company’s latest next-generation products, Impossible Sausage and Impossible Pork, which debuted at the International Consumer Electronics Show in January 2020. Demand for the company’s flagship product, the award-winning Impossible Burger, continues to be strong, the company says, with new and existing strategic partners eager to bring plant-based meat to their customer bases.
Impossible Burger experienced an unprecedented sales surge in 2019. As a result, the company more than quadrupled production at Impossible Foods’ manufacturing facility in Oakland, Calif. and at multiple plants owned by co-manufacturing partners.
Unilever to divest most of its tea business but keep RTD Lipton
7 Aug 2020
After a nearly seven-month review of its tea business, Unilever announced that it would divest the majority of its €3 billion ($3.5 billion) tea business, which includes tea brands PG Tips, Pukka Herbs and Tazo that generated €2 billion ($2.3 billion) ...Read more
Coca-Cola to launch Topo Chico hard seltzer brand in Latin America
6 Aug 2020
The hard seltzer market has seen phenomenal growth and now Coca-Cola is getting into the space with the launch of Topo Chico Hard Seltzer. Coke announced the alcoholic beverage will be released in select cities in Latin America later this year. In 2021...Read more
Chobani releases a functional non-dairy beverage
5 Aug 2020
Chobani released a non-dairy probiotic drink to further its efforts to expand out of animal-based dairy. The functional beverage is made with an oat base, has 80 calories, 11 grams of sugar and is made with organic, non-GMO ingredients.Read more
Blue Apron co-founder raises $10M to breed a superior chicken
31 Jul 2020
For decades the American poultry breeding business has been dominated by Cobb and Aviagen. However, Cook Ventures, a new breeder focused on slow-growth, heirloom chickens, may give its two major competitors a run for their money.Read more
Following second quarter earnings report, Coca-Cola looks to drop more brands
30 Jul 2020
After Coca-Cola announced the discontinuation of its Odwalla juice brand earlier this month, Coke's CEO James Quincey said during the company's second quarter earnings call that more of the CPG giant’s brands will be on the chopping block in the near f...Read more
Study: 2% of Brazil’s soybean farms are responsible for 62% of deforestation
29 Jul 2020
A new study published in the Journal of Science found that 20% of soy and 17% of beef imports into European from Brazil may be contaminated with illegal deforestation. Although a substantial figure, this deforestation is linked to a small number of far...Read more
Cyclospora cases plague U.S. lettuce industry
27 Jul 2020
On June 20, retailers in nearly all the Midwestern states in the U.S. recalled bagged garden salad products that were linked to an outbreak of Cyclospora infections. As of July 22, the Centers for Disease Control and Prevention reported 641 cases acros...Read more
Anheuser-Busch releases Busch Light Apple beer
24 Jul 2020
It’s not yet fall, but Anheuser-Busch launched an apple-flavored lager under its Busch Light line. This is the first time in 65 years that the Busch Beer brand has released a flavored beer product, and it will be available for a limited time in select ...Read more
UK government invests £705 million to fund new border infrastructure and management
23 Jul 2020
The transition period for the UK out of the EU will end on January 1, 2021, and with it will come the end of a the single market and customs union. To prepare for the exit and maintain trading relations with the EU, the UK government is investing £705 ...Read more
Pasture-raised egg producer Vital Farms files for IPO
22 Jul 2020
Pasture-raised egg company Vital Farms filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $100 million in an initial public offering. The company plans to use the symbol VITL on the NASDAQ New York stock exchange.Read more
Are you a supplier
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation