Total amount raised
$1.9 Billions
Latest funding date
11/1/2021
Location
Impossible Foods has successfully raised significant capital through multiple funding rounds, achieving a valuation that places it among the elite unicorn companies. The company has attracted a diverse group of investors, including notable names like Mirae Asset and Rockpool Capital.
Keep reading to explore the intricacies of Impossible Foods' fundraising journey and the investors backing this innovative platform.
What Is Impossible Foods?
Impossible Foods, founded in 2011 by Patrick Brown and Monte Casino, is headquartered in Redwood City, California. The company specializes in developing plant-based substitutes for meat, dairy, and fish products, aiming to recreate the experience of traditional animal-based foods using proteins and nutrients from plants.
With a mission to create delicious, nutritious food that is better for the planet and animals, Impossible Foods offers a range of products including plant-based beef, sausage, and chicken alternatives. Their innovative approach has garnered significant attention and investment, positioning them as a leader in the plant-based food industry.
Currently, Impossible Foods employs between 251 and 500 people, reflecting its growth and the increasing demand for sustainable food options. The company's commitment to environmental sustainability and animal welfare continues to drive its expansion and influence in the market.
How Much Funding Has Impossible Foods Raised?
- Series B
- Amount Raised: $25M
- Date: July 2013
- Lead Investors: Bill Gates, Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate research and development of plant-based meat products.
- Series C
- Amount Raised: $40M
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production capabilities and expand market reach.
- Series D
- Amount Raised: $108M
- Date: September 2015
- Lead Investors: UBS
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product launch and market entry strategies.
- Convertible Note
- Amount Raised: $100M
- Date: August 2017
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing research and expand product lines.
- Convertible Note
- Amount Raised: $114M
- Date: April 2018
- Lead Investors: Sailing Capital, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance production capabilities and support international expansion.
- Series E
- Amount Raised: $300M
- Date: May 2019
- Lead Investors: Horizons Ventures, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand retail presence and diversify product offerings.
- Series F
- Amount Raised: $500M
- Date: March 2020
- Lead Investors: Mirae Asset
- Valuation at Round: $4B
- Motivation Behind the Round: To support growth initiatives and international expansion.
- Series G
- Amount Raised: $200M
- Date: August 2020
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the scale-up of operations.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series H
- Amount Raised: $500M
- Date: November 2021
- Lead Investors: Mirae Asset
- Valuation at Round: $7B
- Motivation Behind the Round: To fuel global expansion and product innovation.
Total Amount Raised: $2.387B. Current Valuation: $7B.
Key Investors
- Mirae Asset
- Details: Mirae Asset is a global investment firm that provides a range of financial services, including asset management, wealth management, and investment banking. They have been a significant investor in Impossible Foods, leading multiple funding rounds.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Impossible Foods, Naver, Kakao.
- Bill Gates
- Details: Bill Gates is the co-founder of Microsoft and a prominent investor in technology and sustainable initiatives. He has invested in various ventures aimed at addressing global challenges.
- Investment Focus Areas: Technology, healthcare, sustainable food systems.
- Notable Investments: Microsoft, Breakthrough Energy Ventures, Impossible Foods.
- Google Ventures (GV)
- Details: Google Ventures is the venture capital investment arm of Alphabet Inc. They focus on funding innovative startups across various sectors.
- Investment Focus Areas: Technology, life sciences, sustainability.
- Notable Investments: Uber, Slack, Medium.
- UBS Group AG
- Details: UBS Group AG is a Swiss multinational investment bank and financial services company. They offer a wide range of financial services globally.
- Investment Focus Areas: Financial services, technology, sustainable investments.
- Notable Investments: Various global financial and technology companies.
- Coatue
- Details: Coatue is a global investment manager focused on public and private companies in the technology, media, and telecommunications sectors. They have a strong track record of investing in high-growth companies.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snap Inc., DoorDash, ByteDance.
What's Next for Impossible Foods?
Impossible Foods stands at the cusp of significant opportunities, driven by a growing global appetite for plant-based alternatives. With products now available in 22,000 grocery stores and 40,000 restaurants worldwide, the company is poised to expand further into international markets, including Europe, pending regulatory approval. The recent $500 million funding round will fuel this growth, enabling the company to enhance its product portfolio and technology platforms.
Future fundraising efforts, including a potential IPO, could provide the necessary capital to support these ambitious plans. However, challenges such as scaling supply chain operations, maintaining product quality, and navigating international regulations remain. Competition from other plant-based brands and traditional meat companies will also test Impossible Foods' resilience as it continues to innovate and expand.
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