Funding round
Impossible Foods Growth
Reported as "Growth Equity"
Impossible Foods, which works in plant-based meat alternative manufacturing in Ashburn, raised $500M in a Growth round announced on 22 Nov 2021, led by Mirae Asset Global Investments, at a $7.00B post-money valuation. 10 firms took part, 10 of them already investors. It is Impossible Foods' sixth venture round on record; the one before was a Series G in Aug 2020.
$500M
Amount raised
$7.00B
Post-money valuation
$6.50B pre-money
10
Investors
1 lead
1.9x
Step-up from the Series G
$3.60B in Aug 2020
7.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Impossible Foods at $7.00B after the new money, 1.9 times the $3.60B of its Series G (Aug 2020). The $500M bought investors about 7.1% of the company. It came 15 months after Impossible Foods' Series G. It is 30% of the $1.65B Impossible Foods has raised in the venture rounds on record. No later venture round is on record for Impossible Foods.
Impossible Foods' funding rounds
Impossible Foods has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Series C 27 Jun 2014 $40M
- Series D 6 Oct 2015, led by UBS $108M
- Debt not a venture round 3 Apr 2018, led by Temasek and Sailing Capital $114M
- Series E 14 May 2019, led by Temasek and Horizons Ventures $300M
- Series F 15 Mar 2020, led by Mirae Asset Global Investments $500M
- Series G 13 Aug 2020, led by Coatue $200M$3.60B post-money
- Growth this round 22 Nov 2021, led by Mirae Asset Global Investments $500M$7.00B post-money
Investors
Who put money in
Mirae Asset Global Investments led the round with 9 other firms. Mirae Asset Global Investments, Khosla Ventures, GV and Horizons Ventures and 6 more had backed Impossible Foods before.
Lead investor
- Mirae Asset Global Investments existing investor
Also in the round
- Khosla Ventures backs 396 venture-backed companies existing investor
- GV backs 428 venture-backed companies existing investor
- backs 97 venture-backed companies existing investor
- UBS existing investor
- backs 54 venture-backed companies existing investor
- Temasek backs 195 venture-backed companies existing investor
- Sailing Capital existing investor
- Coatue backs 229 venture-backed companies existing investor
- Open Philanthropy Project existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Growth rounds in Food Production within a year either side disclosed an amount; the median was $59M, and this round was 8.5 times the median. The closest in time, other companies' Growth rounds in Food Production:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Food Production | 9 Nov 2021 | $28M | not disclosed | Blume Equity |
| Food Production | 5 Nov 2021 | undisclosed | not disclosed | not named |
| Food Production | 4 Oct 2021 | undisclosed | not disclosed | not named |
| Butternut Box Food Production | 10 Aug 2021 | $55M | not disclosed | L Catterton |
| LIVEKINDLY Collective Food Production | 31 May 2022 | $200M | not disclosed | Founders Factory |
| Food Production | 25 May 2022 | $31M | not disclosed | Claridge |
| LIVEKINDLY Collective Food Production | 29 Mar 2021 | $335M | not disclosed | TPG |
| Food Production | 23 Mar 2021 | $200M | not disclosed | Qatar Investment Authority and Charlesbank Capital Partners |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Impossible Foods raise in its Growth round?
Impossible Foods raised $500M in its Growth round, announced in Nov 2021.
Who led Impossible Foods' Growth round?
Mirae Asset Global Investments led it, with Khosla Ventures, GV, Horizons Ventures, UBS and Viking Global and 4 more.
What was Impossible Foods' valuation at the Growth round?
$7.00B post-money ($6.50B pre-money).
How does it compare with other Growth rounds in Food Production?
9 Growth rounds in Food Production within a year either side disclosed an amount; the median was $59M, and this round was 8.5 times the median.