ImpactAlpha, November 29 — Redwood City, Calif.-based Impossible Foods is leveraging “the power of the food system to satisfy consumers and fight climate change,” said Impossible’s David Borecky.
In the last four months, it launched the Impossible Sausage, Impossible Chicken Nuggets, Impossible Pork and the Impossible Meatballs. It also expanded its footprint to Canada, Australia, New Zealand and the United Arab Emirates. The company says its products can be found in 22,000 grocery stores and 40,000 restaurants globally.
The market for alternative protein is expected to reach at least $290 billion by 2035. The investment round was led by South Korea’s Mirae Asset Global Investments, with participation from existing investors. Impossible has a roster of celebrity investors that include Jay-Z, Trevor Noah, Katy Perry, Ruby Rose, Jaden Smith and Serena Williams. Impossible has raised nearly $2 billion since 2011.
San Francisco-based New Culture secures $25 million Series A funding backed by S2G Ventures to make animal-free cheese. Slovenia’s plant-based steak startup Juicy Marbles scores $4.5 million seed financing led by World Fund, which launched a €350 million ($405.7 million) climate tech fund.