|We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.|
Impossible Foods, the US plant-based meat company, is looking to raise fresh funding to increase its production capacity, after striking a distribution deal with fast-food chain Burger King. BK began trial marketing the product this week in St. Louis, MO, and word on the street has it that all inventories sold out within the first two days on the market.
The company has filed a Form D financing notice with the SEC for an undisclosed sum. Existing investor Temasek, which is backed by the Singapore government, is considering investing $75m in the round, according to people familiar with the situation. Investors hope the company would achieve a valuation of more than $1 billion through the fundraising.
In January of this year, Impossible Foods launched a new version of their signature burger, the Impossible Burger 2.0 at CES in Las Vegas.
CEO Pat Brown says they are working on "whole cuts of beef", including steak. "If we can make an awesomely delicious world-class steak . . . that will be very disruptive not just to the beef industry, but to other sectors of the meat industry."
No IPO has yet been announced. We'll associate the new BYND ticker with this board, for now, as no small hint to Pat Brown: If your also-ran competitor can do this outrageously well on the public market, why not make a go of it yourself? People are dying to give you their money and help you save the world. Think about all the talent you could acquire in your quest to save the planet when you can PRINT YOUR OWN MONEY.
|© 2023 Knight Sac Media. Data provided by IEX, Alpha Vantage, Coinbase, Binance, Fintel and CityFALCON News|