Impossible Foods announces US$300 million funding round to accelerate expansion
The company’s signature Impossible Burger continues its sales surge.
Impossible Foods has announced a Series E equity round of US$300 million to accelerate its rapid scaleup. In total, the food-tech industry startup has raised more than US$750 million.
In addition to blue-chip institutional investors, the Series E round includes individual investors including Paul George, JAY-Z, Trevor Noah, Kal Penn, Katy Perry, Questlove, Ruby Rose, Serena Williams, will.i.am and Zedd.
“We have cracked the molecular code for meat and built an industry-leading intellectual property portfolio and brand,” Impossible Foods chief financial officer David Lee said. “Our global financial partners are supporting a technology powerhouse that will transform the global food system.”
The company’s flagship product, the Impossible Burger, continues its sales surge, with strong growth among small restaurants as well as new customers including Burger King, Red Robin and Qdoba.
Another notable customer is Fatburger, who will further showcase the Impossible Burger in Singapore.
“We have a great relationship with Impossible Foods and have been working closely with them to become one of the first carriers of the Impossible Burger in Asia,” FAT Brands CEO Andy Wiederhorn said in a statement.
The Impossible Burger is now sold in more than 7,000 restaurants in two continents.
