Temasek, others invest US$500M in America’s plant-based meat company Impossible Foods
US-based Impossible Foods has raised US$500 million in a Series F funding round, led by South Korean investor Mirae Asset Global Investments, according to DealStreet Asia. Other investors in this round include Khosla Ventures, Horizons Ventures, and Temasek.
This brings its total funding to date to US$1.3 billion.
Impossible Foods CFO David Lee is confident about his business even though the global market is severely hit by Covid-19 outbreak.
“Whatever the headlines are, we have the means to withstand short-term shocks and realise our long-term mission,” said Lee.
The company, which uses genetically-engineered soy, had launched its newest plant-based sausages and pork earlier this year.