US plant meat producer Impossible Foods announced on Thursday that it has secured another $200 million in a new round of financing. Only in March, the fast-growing company had secured $500 million. Since its launch almost ten years ago, Impossible Foods has generated $1.5 billion in investments.
Since its recovery from the coronavirus pandemic, Impossible’s products have been the only new addition to Starbucks menus in the month of July. In addition, the company’s grocery footprint has increased more than 60X in 2020, making its products available in retail outlets throughout the US.
As already announced in November 2019, the company plans to enter the Chinese market in the near future. For this venture, the newly generated capital could be a decisive factor and set another milestone in the company’s mission to transform the food system