Familiar name in the alternative meat sector, Impossible Foods has secured another US$500 million in fresh funding, despite the ongoing COVID-19 pandemic.
The latest funding came from new investors in Asia like South Korea’s Mirae Asset Global Investments, and existing investors like Hong Kong’s Horizons Ventures and Singapore’s Temasek. Khosla Ventures, the Silicon Valley firm founded by Indian-born tech mogul Vinod Khosla, also participated in this round.
Impossible Foods had raised a total of US$1.3 billion, and the company is now valued at US$4 billion.
Impossible Foods has gained tremendous media attention lately from its signature Impossible Burger (beef). In January 2020, it has expanded its portfolio to include plant-based pork and sausage.
The new injection in capital is timely as Impossible Foods is set to increase its international presence particularly in China, while strengthening its market presence in ASEAN markets.
Impossible Foods will use the new funding to invest in research & development, manufacturing and its business overseas, and accelerate its growth in these markets.
Impossible Foods raised $500 million from Asian investors
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