The maker of the ‘Impossible Burger’ has just closed off a round of funding which has raised $75m.
The investors include Bill Gates and the Open Philanthropy project, with lead investor being Singapore-based investment company Temasek.
Impossible Foods makes meat directly from plants which has a smaller environmental footprint than animal-based meat.
The Impossible Burger is made from a simple combination of plant-based ingredients. The magic ingredient is soy leghemoglobin which is a protein which contains heme an iron-containing molecule that occurs naturally in both animals and plant.
The Impossible Burger generates about 87% fewer greenhouse gases, uses about 75% less water and requires around 95% less land than beef. It’s also made without antibiotics, hormones, and is cholesterol-free.
This is a real step forward for the plant-based food sector, as investors are seeing alternatives to meat, dairy and eggs as wise investments.