impossible-foods

Redwood City, California, US based startup, Impossible Food announced on 14th August, 2020 that it has bagged a funding of USD 200M from technology sector hedge fund Coatue.

The start-up claims to deploy the new investment to fuel its research & development, increase its retail presence in the international market, commercialize new products like Impossible Pork, steak, milk etc. and accelerate its production.

The company previously raised USD 500M in series F funding round at the onset of coronavirus pandemic in the United States in mid-March this year. In addition to that, the company also raised USD 300M from celebrity investors including Trevor Noah, Serena Williams, Katy Perry, Kal Penn, Ruby Rose, Zee and Jay-Z in May 2019.

Established in the year 2011 by Patrick O. Brown, M.D., Ph.D,  the startup flagship product i.e. Impossible Food grew its food service distribution to include chains like Disney Properties, White Castle and Burger King.

Talking about the retail sector, Impossible Food debuted in select stores in the fall of 2019 and has since increased its presence 60 times to 9000+ retail stores including Publix, Walmart, Kroger and Trader Joe’s. The latest product of the company, Impossible Sausage is on the same trajectory and it is now available as a part of Impossible Breakfast Sandwich in Starbucks, Impossible Croissan’wich at Burger King and on the menu at Yelp’s top 30 most popular diners.

Impossible Burger
Impossible Burger

Founder of Impossible Food, Patrick O. Brown explained, “The use of animals to make food is the most destructive technology on Earth, a leading driver of climate change and the primary cause of a catastrophic global collapse of wildlife populations and biodiversity.”

He further said, “Impossible Food’s mission is to replace that archaic system by making the most delicious, nutritious, and sustainable meats in the world, directly from plants. To do that, Impossible Foods needs to sustain our exponential growth in production and sales, and invest significantly in research and development. Our investors believe in our mission to transform the global food system—and they recognize an extraordinary economic opportunity.”

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