Impossible Foods to Accelerate Scale-Up
Company announces $300M funding round to spur hiring and capacity expansion
Impossible Foods, Redwood City, Calif., announced a $300 million funding round led by existing investors Temasek Holdings Private Ltd., Singapore, and Horizons Ventures Ltd., Hong Kong.
The fifth equity funding round since Impossible Foods launched in 2011 is intended to accelerate the company’s rapid scale-up, including accelerated hiring and capacity expansion at the company’s Oakland, plant. In total, the foodtech startup has raised more than $750 million.
The Series E round includes individual investors including, Jay Brown, Kirk Cousins, Paul George, JAYZ, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.
The company’s goal is to eliminate the need for animals in the food chain by 2035. To achieve continued breakout growth, Impossible Foods is actively planning to add to and diversify its manufacturing capacity. The company will provide additional details on expansion plans later this year.