Impossible Foods Raises $108m for its Veggie Burgers!
Impossible Foods, a vegan company that specializes in making plant-based meats and cheeses, has officially raised $108 million for its meat-free burgers!
The company has been active for four years and is based out of Redwood City, California, and was co-founded by Patrick Brown, a biochemistry professor at Stanford, vegan celebrity chef Tal Ronnen, and cheesemaker Monte Casino. Impossible Foods includes products such as almond milk-based cheeses, ricotta, ravioli and cream cheese. Their website states:
“Impossible Foods is developing a new generation of delicious and sustainable meats and cheeses made entirely from plants. Our mission is to give people the enjoyment of food that comes from animals without the health and environmental drawbacks.”
The $108 million goes towards the companyâ€™s new generation of plant-based cheeseburgers, and comes as a result of some powerful investors. They had previously been able to successfully raise $75 million from investors, and this time the backers include UBS, Viking Global Investors, Khosla Ventures, Bill Gates, and Horizons Ventures.
Brown has stated that just as with his previous company Kite Hill, which specialized in nut milks, he wants the company to be committed to creating foods that are free of cholesterol, hormones and antibiotics. In an interview, Brown stated why he is focusing on this initiative:
“The total amount of plant biomass will be much greater and far more diverse as we switch from making meat and cheese from livestock to plants. Our impact should be easily visible from outer space.”
The veggie burger is set to make its debut by the end of 2016, and according to reports, the burger will have such a meat-like quality to it, that it will even bleed! Another important aspect for Brown as well as to the investors of the company is the focus on feeding the ever-increasing population. With current estimates at a 9.5 billion population by the year 2050, there will be a lot more mouths to feed, and the current system of food production is not a sustainable one, according to the Impossible Foods team.
Impossible Foods was reportedly in talks with Google as well this summer, and the company allegedly turned down their offer because they wanted more control of their products and the $200-$300 million proposal was seen as too little!
2016 should be a mouth-watering year!
Photo Credit: http://csglobe.com/