Crowned by Burger King, meat replacement company Impossible Foods raises $300 million


The Silicon Valley-based startup, meatless food's current It company, is valued at a jaw-dropping $2 billion after its latest round of funding raised $300 million in capital, according to Reuters.

Founded in 2011 by Stanford biochemistry professor and former pediatrician Dr. Patrick O. Brown, Impossible Foods makes meat from plants - with a much smaller environmental footprint than meat from animals. Impossible Foods is now said to be worth $2 billion, according to Reuters.

Impossible Foods has raised more than Dollars 750 Million from investors such as Bill Gates, Google Ventures, and Serena Williams.

"We don't lead with the source of guilt that meat eaters have globally".

The company's fifth equity funding round will help to speed up, among others, hiring and capacity expansion at its plant in Oakland, California.

Their burger product includes a key ingredient called heme - agenetically modified yeast, which makes the patties appear to be bloody and juicy and taste like real meat unlike conventional veggie burgers.

Impossible Foods said on Monday that it has raised another Dollars 300 Million in its latest funding round, according to CNBC.

Even more celebrities like Philly's own Questlove of The Roots has jumped on the Impossible Foods bandwagon with the launch of "Questlove's Cheesesteak".

The presence of Impossible Foods' Asian investors point to the hunger for protein replacements on the continent where the quality of meat is an issue and rising demand is putting increasing pressure on companies looking to feed the continent's newly wealthy consumers more high-quality protein. "Our global financial partners are supporting a technology powerhouse that will transform the global food system".

Since launching in Singapore in March 2019, sales in Asia have increased more than threefold as it benefited from strong sales from a wide range of restaurants and cuisines in Hong Kong and Macau.

"Sales of plant-based products grew by more than 17% past year, according to Nielsen, while other grocery products only grew by 2%", CNBC's Aditi Roy reports.

Impossible Burger is sold at more than 7,000 restaurants worldwide including White Castle, Qdoba and Red Robin and at Disney theme parks.

They launched their first faux meat patty more two years ago. The 59-unit regional test of the Impossible Whopper at Burger King restaurants in St. Louis has gone exceedingly well; the Miami-based restaurant chain intends to bring the Impossible Whopper to all 7,200 US restaurants at the end of 2019.

The craze over plant-based meat has caused Impossible Foods to struggle to meet the demands.