INSUBCONTINENT EXCLUSIVE:
Impossible Foods, the privately held meat replacement challenger to publicly traded Beyond Meat, said it has raised roughly $500 million in
ago.The new financing was led by Mirae Asset Global Investments, with participation from existing investors Khosla Ventures, Horizons
Ventures and Temasek, the company said.According to a statement from the company, the funding will be used to boost its manufacturing;
expand its distribution in supermarkets and other retailers domestically and internationally; and speed up the commercialization of its new
Brown, M.D., Ph.D., founder and CEO of Impossible Foods, in a statement
The market has its ups and downs, but the global demand for food is always there, and the urgency of our mission only grows
Our investors not only believe in our mission, but they also recognize an extraordinary opportunity to invest in the platform that will
pandemic.Impossible Foods instituted a mandatory work-from-home policy for workers who can telecommute (through the end of April); it also
instituted restrictions on external visitors to company facilities and its co-manufacturing partners
In addition, the company said its facilities were undergoing daily sanitizing, disinfecting and deep cleaning of all workplaces to ensure
surge Burger King experienced in 2019 forced the company to quadruple production at its manufacturing facility in Oakland, the company said.
