Impossible Foods Raises $114M Convertible Note Financing

Impossible Foods, a Redwood City, CA-based food tech startup, raised about $114m in convertible note financing.

The round brings total investments to nearly $400m. Lead investors included Temasek and Sailing Capital.

The company will use the funds to add a second shift at its factory in Oakland, Calif., this spring and launch its first international market later this month in Asia.

Started in 2011 by Stanford biochemistry professor and former pediatrician Dr. Patrick O. Brown, Impossible Foods uses modern science and technology to create wholesome food directly from plants. The company’s flagship product, the Impossible Burger, is made through a combination of plant-based ingredients. The Impossible Burger is now in more than 1,000 restaurants from Hawaii to Maine, with more mainstream outlets coming every week.

Backers in the company also include Open Philanthropy Project, Temasek, Bill Gates, Horizons Ventures, Google Ventures, UBS and Viking Global Investors.



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