Beyond Meat Rival Impossible Foods Raises $300M

Impossible Foods has announced it has raised another $300 million in the latest round of funding, bringing the company’s total equity to $750 million. It was announced this month that the company´s Impossible Burger will be rolled out across Burger King restaurants throughout North America.

Impossible Foods are the biggest competitors in the plant-based meat game to Beyond Meat, whose stock has surged 173% since its stock market launch on 2nd May. Impossible´s celebrity backers in this latest round include Jay-Z, Serena Williams, Will I Am, Trevor Noah, Katy Perry Questlove, Ruby Rose, Jaden Smith, and Serena Williams. Business investors include Google Ventures, Bill Gates, and Khosla Ventures.

Chief Financial Officer David Lee said to Reuters, “We believe in self-reliance. Being ready to go public is a priority for the company because we need to be operating at the highest level of rigor.” He added, “But we are not in a rush, nor are we announcing an IPO filing.”

“I think their (Beyond Meat) IPO indicates that retail investors along with retail consumers are ready for something better than the meat they’ve been eating for decades,” Lee commented about his rivals.

This funding round brings the value of Impossible Foods to $2 billion, according to Reuters.

Ad
Innovation Food Conference - Discovering Megatrends in Food