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Impossible Foods Raises $500m In Latest Funding Round

Faux beef products maker Impossible Foods said on Tuesday it had raised nearly $500 million in a funding round led by existing investor Mirae Asset Global Investments.

The latest funding for the Beyond Meat rival comes ahead of an expected stock market listing next year in the United States.

Public Listing Preparation

Reuters reported in April that Impossible Foods was preparing for a public listing that could value it at around $10 billion or more.

The company is exploring going public in the next 12 months through an initial public offering or a merger with a so-called special acquisition company (SPAC), the report had said.

The latest round, which included other existing investors, brings the total funds raised to $2 billion since the company was founded in 2011.

California-based Impossible Foods is backed by high-profile names including Microsoft Corp co-founder Bill Gates, Google Ventures and UBS Group AG.

News by Reuters edited by Donna Ahern, Checkout. For more A Brands stories click here. Click subscribe to sign up for the Checkout print editio

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