Meat has been part of our lives since the beginning of time. Imagine how many animals were slaughtered to satisfy meat cravings. Luckily, more and more people are taking bolder steps to reduce meat production and possibly save earth from dying.
It was in 2016 when a company called Impossible Foods launched its first-ever burger patty that is not made of meat. Its mission is to save wildlife as well as to reduce climate change. They believe that most of the machines and technologies used to produce meat are the main contributors to climate change.
“Impossible Foods’ mission is to replace that archaic system by making the most delicious, nutritious, and sustainable meats in the world, directly from plants,” said the Founder and CEO of Impossible Foods, Dr. Patrick O. Brown.
“To do that, Impossible Foods needs to sustain our exponential growth in production and sales and invest significantly in R&D. Our investors believe in our mission to transform the global food system – and they recognize an extraordinary economic opportunity.”
And now, the people behind Impossible Foods have made another milestone towards their mission by raising another $200 million funds. The company said that additional funding would be used to innovate new products such as steak, pork, and milk through an increase to its efforts in terms of research and development.
The latest funding was led by the tech-focused hedge fund firm Coatue with the participation of XN of New York. The funding was added to the $1.5 billion March series F funds from the South Korean new investor, Mirae Asset Global Investments, along with Temasek.
However, prior to that, there are already past investments from Horizon Ventures and Khosla Ventures, which have led to Impossible Foods to accumulate a whopping $4 billion valuation.
Impossible Foods is not the only startup that has been reinventing foods for better earth in the future but also the creator of molecular coffee – Atomo Coffee. The Seattle-based company is the maker of the first-ever non-coffee beans coffee. One of the investors of Impossible Foods was also part of the recent $9 million funding of Atomo. The combination of these two or more sustainable food creators can surely have a significant change in the future.