Wednesday, August 2, 2017

"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'.

From Quartz:
Impossible Foods, the maker of the meatless “burger that bleeds,” just got a fresh infusion of cash from some of the wealthiest people on the planet.

Bill Gates, a co-founder of Microsoft, and Li Ka-shing, Asia’s third-richest man, are among the investors backing the firm in its quest to get a plant-based burger to market. They were joined by Temasek, the Singapore state-owned investment company; Khosla Ventures; and Open Philanthropy Project, a investment fund led by Facebook co-founder Dustin Moskovitz.

Impossible Foods is locked in a race against another startup, Beyond Meat, to get a high-quality, plant-based burger into the mainstream. These aren’t your average veggie burgers—the companies have raised hundreds of millions of dollars to develop a product aimed to look, taste, and cook exactly like ground beef. And you won’t find them tucked away in supermarket freezer sections. Beyond Meat (which also counts Gates among its backers) is selling its product alongside the real thing in the meat section, while Impossible Foods has been getting its product—made with soy leghemoglobin—into high-profile restaurants.

Beyond Meat tripled its potential customer reach last week, and added to the pressure on Impossible Foods, when it added Kroger—the largest US grocery chain—to the list of retailers carrying its product. It had previously inked deals with Whole Foods and Safeway....MORE
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