Big investors and big ticket sizes are matching the big “alternative protein” opportunity as growing incomes and populations drive demand for protein.
With the meat industry contributing nearly one-fifth of global greenhouse gases, there’s a rush on for less resource-intensive, healthier alternatives.
Redwood City-based Impossible has raised more than $300 million to date for its “juicy” burgers engineered from plants. For Bill Gates, the world’s wealthiest man (on some days) it was his second plant-based burger investment (the other: Beyond Meat).
Gates was joined by Temasek, the $200 billion Singapore state-owned wealth fund, Khosla Ventures and Horizon Ventures. Impossible Foods’ new factory in Oakland is expected to produce a million pounds of “plant meat” each month.