Impossible Foods Now Worth 2 Billion Thanks to Celeb Investments

Impossible Burger creator raises US$300m in Series E round led by Temasek, Horizon Ventures

A-list celebs help pump $300M in funding into Impossible Foods

In addition to blue-chip institutional investors, the Series E round included celebrity investors like Jay Brown, Paul George, Jay-Z, Serena Williams, and Katy Perry.

"We don't lead with the source of guilt that meat eaters have globally".

In particular, Impossible Foods offers the plant-based Impossible Burger, which debuted in 2016, and recently launched the Impossible Burger 2.0, a significant product upgrade. Animal husbandry and industrial farming contribute heavily to rising greenhouse gas emissions (which is kind of a huge problem). A lot has changed since then. It uses modern science and technology to create wholesome food, restore natural ecosystems, and feed a growing population sustainably.

Tom's Guide, a respected reviewer of technology products, called Impossible's burger "shockingly good", with its reviewer declaring "the texture was so close to beef that if I hadn't known what I was eating, I would have happily assumed it was a cow".

Last month, Burger King began a pilot of its Impossible Whopper, a meatless burger made with Impossible Foods' plant-engineered meat the burger chain plans to roll-out across its 7,200 USA stores by end of year. The startup makes meat from plants, for the planet and your tastebuds. Sales across the continent are rising, according to the company, in restaurants across Hong Kong, Singapore and Macau.

The Oakland, California-based company plans to employ 50 new workers at its plant, which now has a small squad of some 70 full-time employees. The company is adding a third shift and a second full line of production to help increase its capacity this year.

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David Lee, chief financial officer for Impossible Foods said: "We have cracked the molecular code for meat and built an industry-leading intellectual property portfolio and brand".

With fresh backing, the startup is set to "transform the global food system", he said.

Since January, Impossible Foods has recorded intense growth in every sales category in which it does business - independent restaurants, large restaurant chains such as White Castle and Qdoba, and non-commercial outlets such as theme parks, museums, stadiums, and college campuses.

America's largest "better burger" franchise, Red Robin, launched the Impossible Burger last month at almost 500 restaurants nationwide.

In an interview with the South China Morning Post, Lee said Impossible Foods would focus on expansion in Asia, where about half the world's meat demand is based.

Indeed, even corporate America has taken notice, with Tyson Foods hatching plans to bring its own meat replacement product to market in the coming years.

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