Impossible Foods raises $300m from Temasek, Horizon Ventures, others

Shortly after its launch in Singapore in March, Impossible Foods has raised US$300 million in a series E round led by Singapore government-owned Temasek Holdings and Hong Kong’s Horizon Ventures.

Photo credit: Impossible Foods

The funding round, which pushed Impossible Food’s total capital raised to US$750 million, also included participation from individual investors Jay Brown, Kirk Cousins, Paul George, Jay-Z, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, Will I Am, and Zedd.

The company, which develops plant-based alternatives to meat and dairy products, plans to use the fresh funds to speed up its ongoing expansion. The scale-up includes growing its team and capacity at its plant in California.

Impossible Foods also plans to launch its flagship Impossible Burger in retail outlets later this year.

The meat-alternative provider’s growth efforts came amid the rising demand for Impossible Burger. The company claims that the burger is currently being sold in more than 7,000 restaurants, with sales in Hong Kong, Singapore, and Macau increasing more than three-fold since its launch in Asia.