Subscribe to the Crunchbase Daily
The new funding brings the startup’s total raised to around $1.5 billion. Silicon Valley-based Impossible Foods creates plant-based meat and dairy products. Its most notable competitor is probably Beyond Meat, which also uses plants to make its products, like burger patties, beef and sausage.
With the new funding, Impossible Foods plans to invest in research and development, scaling up manufacturing, increasing its retail footprint and its availability in other countries, and working on developing new products, according to a statement from the company.
Impossible Foods has also greatly increased its retail presence. According to the company, the Impossible Burger was only available in 150 grocery stores across the U.S. at the beginning of the COVID-19 pandemic in March (around the time the company raised its $500 million Series F). The Impossible Burger is now available in more than 8,000 grocery stores across the country.
Illustration: Li-Anne Dias
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.