Tags: 108 million | impossible foods | bill gates | investment

$108 Million for Impossible Foods: Bill Gates Invests in Plant-Based Burgers

Image: $108 Million for Impossible Foods: Bill Gates Invests in Plant-Based Burgers
(impossiblefoods.com)

By    |   Thursday, 08 Oct 2015 08:55 AM

Impossible Foods, a company working on creating meats and cheeses made from plants, has raised $108 million in a Series D investment round that included earlier investor Bill Gates.

Patrick Brown, who founded Impossible Foods in 2011, worked for decades as a biochemistry professor at Stanford, and is also the cofounder of another food company called Kite Hill.

Kite Hill "has developed numerous nut milk products that it says are healthier and more sustainable than their dairy counterparts," TechCrunch reported. "With Impossible Foods, as with Kite Hill, Brown is reportedly looking to make foods that are not only tasty but which have no cholesterol, hormones, or antibiotics."

Brown said in a statement that the new round of funding "ensures that we have more than enough runway to bring our first products to market."

Among the Series D investors is Horizons Ventures, which has also invested in Modern Meadow, another food company that uses bioengineering to grow animal cells into edible meat products.

Horizons Ventures’s Solina Chau told The Wall Street Journal that, "Both companies are trying to bring great food to the world’s table through technology that is much more environmentally friendly and effective in terms of 'real cost' to the world." 

Horizons Ventures and Khosla Ventures have also invested in Hampton Creek, the producer of Just Mayo, an eggless mayonnaise substitute available in Whole Foods supermarkets.

"If the global population projection of 9.6 billion mouths to feed by 2050 is on the mark, the market will definitely be big enough to embrace the products of Impossible Foods and Modern Meadow," said Chau.

According to previous reports, Impossible Foods was previously in talks with Google about a potential acquisition last summer.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
Impossible Foods, a company working on creating meats and cheeses made from plants, has raised $108 million in a Series D investment round that included earlier investor Bill Gates.
108 million, impossible foods, bill gates, investment
282
2015-55-08
Thursday, 08 Oct 2015 08:55 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved