Impossible Foods could double valuation to $4 billion as it weighs new funding (Video)
By Katie Burke, San Francisco Business Times
Nov 25, 2019
Impossible Foods' billion-dollar valuation could get even meatier if the food tech company orders up another round of funding.
The Redwood City-based food tech company is reportedly in talks with investors for a round that would raise between $300 million to $400 million, an amount that would value Impossible at between $3 billion and $5 billion. The company — which produces plant-based "meat" like its namesake Impossible Burger — is currently valued at $2 billion.
The potential funding would following a record-setting year of growth thanks to launching into retail, landing on thousands of Burger King menus across the country and expanding operations at its Oakland production facility to keep up with skyrocketing demand. As of early October, Impossible products were available in more than 17,000 eateries and more than 125 grocery stores across the country.
Investors from Silicon Valley's stalwarts such as Khosla Ventures to celebrities like Katy Perry have funneled money into Impossible Foods, which has raised a total of $777 million since it was founded in 2011. It raised $300 million alone this year with a round it closed in May among investors such as Jay-Z and Serena Williams.
Yet as the plant-based industry continues to soar in popularity — and value — investors' appetite in the space has increased accordingly...
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