2030 Finance | August 8, 2017

Impossible Foods raises a juicy $75 million for its meatless burgers

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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.