Thursday, April 5, 2018

Laboratory Meat Company Impossible Foods Raises Another $114 Million, Approaching $400 Million to Date

Yes, there was a method to the madness when we the adopted analysis of the frankenfood alternative protein purveyors as our own little cottage industry a couple years ago.
Now may be the time to re-purpose the mission statement we use for another emerging sub-industry:
"As the only analysts covering the nascent as-yet-theoretical autonomous electric flying taxi market we intend to be the the go-to source for all things autonomous electric flying taxi and/or theoretical...."
From AgFunder April 4:

UPDATE: Impossible Foods Adds $114m in New Financing, Bringing Total to Nearly $400m
*First Published August 1, 2017. Updated April 4, 2018 to reflect new financing.”
Plant-based burger maker Impossible Foods has added a $114 million convertible note to its ample coffers. The additional financing comes from existing investor Singapore state fund Temasek along with Chinese private equity firm Sailing Capital

The company closed $75 million in Series E funding in August 2017, with Temasek leading the round. This marked the fourth agtech investment for the Singaporean state fund and the second investment in a company looking to replace animal products with no-slaughter alternatives.

The startup has now raised roughly $396 million in debt and equity in total, making it the best-funded alternative protein startup to date. Also participating in the August round were existing investors Open Philanthropy Project, Bill Gates, Khosla Ventures, and Horizons Ventures.
Impossible Foods makes a plant-based burger with synthesized heme, the non-protein part of hemoglobin in blood that carries oxygen. This compound ingredient helps Impossible’s burgers cook, taste, and bleed like beef. It obtains heme by genetically modifying yeast and using fermentation to produce a heme protein naturally found in plants, called soy leghemoglobin.

In 2017, Impossible Foods received a patent for its use of leghemoglobin in plant-based meat. The 200-person startup says it has more than 100 additional patents pending....MORE
Previously on the Protein Channel::

"How the Cattle Industry Is Fighting Against #FakeMeat"
"Companies Are Betting on Lab-Grown Meat, but None Know How to Get You to Eat It"
The Largest U.S. Protein Processor (chicken, beef, pork) Is Investing in Lab Grown Meat
Dealflow: "New Investors Flock To Food"
"Silicon Valley and the Search for Meatless Meat"
"Where’s The Beef? China Signs $300 Million Deal with Israel to Import ‘Lab Meat’"
Bill Gates Invests In Another Lab-Grown Meat Company
"Bill Gates headlines an all-star list of investors pumping $75 million into meatless burgers"

Mr. Gates also partnered with Li Ka-Shing and Khosla on Hampton Creek which is attempting to pivot from Just Mayo into laboratory-grown 'meat'.*
"Mayo-scandal firm Hampton Creek from San Francisco going whole hog for Frankenmeat: report"
Just Mayo Guy, Hampton Creek's Josh Tetrick, Pivots to Industrial Scale Ingredient Supply Biz
Hampton Creek: Remember All Our Vegetarian Talk? Never Mind    
Questions America Wants Answered: Is Eating Lab Grown Human Flesh Cannibalism?
"People buying meat from strangers on social media is a serious problem"
Seven Startups Creating Lab-Grown Meat
"Can Planet Earth Feed 10 Billion People?"
We might have to go lower down on the protein chain though.
I hear crickets are yummy but haven't yet verified this claim..
"Ancient Nutrition Raises $103 Million From 100+ Investors To Heat The Bone Broth Market"
The 'bone broth' market?
I was not aware.