Impossible Foods gobbles up another $200 million
Impossible Foods has actually raised $200 million more for its meat replacements.
The new round was led by Coatue, a technology-focused hedge fund, another New York-based hedge fund, XN, also got involved in the round.
The new round values the business at a Whopper-sized $4 billion valuation, according to the data tracker PrimeUnicorn Index.
Impossible previously raised money from investment companies consisting of Horizon Ventures and Khosla Ventures in addition to a few of the most significant celebrities in the United States like: 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 most recent price per share is $16.15, an up round from Series F at $15.4139, according to PrimeUnicorn.
“The usage of animals to make food is the most harmful technology on Earth, a leading motorist of environment change and the primary cause of a catastrophic worldwide collapse of wildlife populations and biodiversity,” said the extremely credentialed Dr. Patrick O. Brown, M.D., Ph.D., CEO and Founder of Impossible Foods, in a declaration. “Impossible Foods’ objective is to change that archaic system by making the most tasty, healthy and sustainable meats in the world, straight from plants. To do that, Impossible Foods needs to sustain our exponential development in production and sales, and invest considerably in R&D. Our financiers believe in our objective to change the global food system– and they recognize an extraordinary economic chance.”
Given that its launch the business has raised $1.5 billion from financiers consisting of Mirae Asset Global Investments, Temasek. The existence of these brand-new public/private financial investment companies on Impossible Foods’ cap table might suggest that the company is preparing itself for a going public, however that’s simply speculation.
The company stated it would use the financing to increase its research study and advancement efforts and deal with brand-new products like pork, steak, and milk in addition to expand its internationalization efforts and construct out its production capability.