Vegan meat brand Impossible Foods closed a $500 million funding round. Since its founding in 2011, the Oakland, California-based brand has raised $1.3 billion. The additional funding will be used to scale up and support new product development.
…
Impossible Foods’ signature product is the Impossible Burger; a gluten-free, plant-based meat made from soy and potato protein. It’s currently in its “2.0” update—prior to this, Impossible meat was made from wheat and potato protein. Heme, an iron-rich, soy-derived compound that’s also found in meat. It’s responsible for a uniquely meaty flavor.
…
Impossible Foods has more than quadrupled its production to keep up with demand.
Looking to the future, the brand is in the process of gaining approval to enter the European market. It is, along with competitor Beyond Meat, also eyeing the Chinese market. Future products may include Impossible pork, chicken, and dairy products.
