Vegan Company, Impossible Foods Secures a Whopping $75 Million In Fresh Funds

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Bay Area’s fast emerging plant based startup, Impossible Foods, is set to announce a fresh new $75 million funding by way of a ‘convertible note‘.

With current investors including Bill Gates and Singapore-based firm, Temasek, this cutting edge vegan company is firmly securing their spot in the future of food.

Availability of the company’s flagship product, the Impossible Burger has been successful at premium burger restaurants such as Umami Burger and Bareburger, however their recent financial injection is to be put toward expansion from gourmet restaurants into fast-food joints such as San Francisco chain ‘Gotts’ (which added the Impossible Burger to their menu just last week).

Impossible Foods are certainly paving the way for the future of plant based foods with their innovative meat free mimics and fortunately are showing no signs of slowing down! The company plan on eventually offering not only beef alternatives, but replacements for fish, chicken, steak, eggs and cheese.

Their current process for the ground beef patties involved using ‘soy leghemoglobin’ which is produced from yeast.

“Our scientists spent so much time and effort studying a single molecule — heme — because heme is what makes meat taste like meat,” Impossible Foods CEO and Founder Patrick Brown said in a statement.
“It turns out that finding a sustainable way to make massive amounts of heme from plants is a critical step in solving the world’s greatest environmental threat.”

As a side, Impossible Foods are planning to share the results of a recent study which examined the affects of heavy soy leghemoglobin consumption. Reflecting the results of the  FDA’s data, the 2016 study showed that even after consumption above normal dietary exposure, there were no adverse effect.

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