Impossible Foods, a US-based company developing meat and dairy-like food products made from plants, raised $108m in a series D round led by financial services firm UBS yesterday.
The round also included Viking Global Investors, which took part as a new investor, as well as existing backers including Horizons Ventures, Khosla Ventures and Bill Gates.
Internet technology provider Google, one of the investors in Impossible Foods $75m series C round in October 2014, could also be a participant in the latest round but has not been publicly named by the company.
Founded in 2011, Impossible Foods is working on a range of sustainable meat and dairy substitutes derived from proteins and nutrients from greens, seeds and grains that are similar to those found in animal-sourced foods.
Google invested in the 2014 round, which signalled Impossible Foods’ emergence from stealth mode, through its Google Ventures unit, alongside Khosla, Horizons and Gates.
Patrick O. Brown, founder and CEO of Impossible Foods, said: “This latest financing ensures that we have more than enough runway to bring our first products to market.
“We are grateful to our visionary investors, whose support will enable us to transform the global food system by providing consumers with delicious and sustainable meat and dairy foods made directly from plants.”
– Image courtesy of Impossible Foods, Inc.