- Impossible Foods — a company working on plant-based meats and cheeses — just raised $108 million in funding in its latest round. An earlier investor round reportedly raised $75 million, according to TechCrunch.
- Backers included UBS and Viking Global Investors, with previous investors Bill Gates, Horizon Ventures, and Khosla Ventures also contributing.
- Patrick Brown founded the company; he's a former biochemistry professor who worked at Standford University for 25 years. He co-founded four-year-old nut milk product company Kite Hill.
Plant-based ingredients are the talk of the industry, though some foods have it easier in ingredient replacement, like eggs, according to Edgar Anders of Florida Food Products.
According to Impossible Foods' website, "We looked at animal products at the molecular level, then selected specific proteins and nutrients from greens, seeds, and grains to recreate the wonderfully complex experience of meats and dairy products."
The company wants to make products that not only are free of cholesterol, hormones, and antibiotics, but also taste good — a challenge for the plant-based product industry.
The Information reported this summer about a potential acquisition by Google, though the deal fell through because the company wanted more than the $200 million to $300 million Google suggested.