Californian plant-based meat company Impossible Foods has raised over $500 million in its recent funding round which was led by existing investor Mirae Asset Global Investments.
The company has now raised close to $2 billion since its inception, which includes a $200 million round in August last year, led by Coatue.
The Food brand portfolio consists of animal-free meat alternatives, including burgers, ground sausages, chicken nuggets, pork and meatballs.
Impossible Foods’ Chief Financial Officer, David Borecky, said, “We’re fortunate to have great investors who believe in our long-term mission. The latest round of funding allows us to further accelerate our product innovation and global expansion efforts as we continue to leverage the power of the food system to satisfy consumers and fight climate change.”
Impossible Foods plans to use the investment to support its continued growth in retail and across its supply chain, product portfolio, technology platforms and international expansion plans.
The round also included previous investors such as Khosla Ventures, Bill Gates, Google Ventures, Horizons Ventures, UBS, Viking Global Investors, Temasek, Sailing Capital, Coatue and Open Philanthropy Project.
