Impossible Foods, Inc., a Redwood City, Calif.-based food tech company, secured $200m in Series G funding.
The round was led by new investor Coatue with participation from existing investors Mirae Asset Global Investments and Temasek as well as new investor XN. In addition to blue-chip institutional investors, Impossible Foods’ existing individual investors include Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.
The startup, which has raised about $1.5 billion since its founding in 2011, will use the funds to expand its research and development programs, accelerate its manufacturing scaleup, increase its retail presence and its availability in key international markets, and accelerate commercialization and development of next-generation, plant-based products, such as Impossible™ Pork Made From Plants, milk, steak and other foods.
Founded in 2011 by Dr. Patrick O. Brown, M.D., Ph.D., CEO, Impossible Foods Based in California’s Silicon Valley, Impossible Foods makes meat and dairy products from plants. The company’s flagship product is the Impossible Burger, which debuted in September 2019 and is now available in more than 8,000 grocery stores across all 50 states, including Walmart, Kroger, Trader Joe’s and more. This round follows the launch of Impossible Sausage, an all-new product which is now available in more than 22,000 restaurants including Burger King and Starbucks.
In June, the company debuted its direct-to-consumer e-commerce site with two-day delivery in the continental United States.