Vegan Burger Chain Raises $108 Million After Turning Down Google’s Buy-Out Offer

After raising $108 million, Impossible Foods is set to launch its veggie burger by the end of 2016!

impossibleburger

Credit: Impossible Foods


Remember in August when search engine conglomerate Google tried to buy out Impossible Foods, the infamous California start-up known for its impeccably delicious plant-based fare?

Well, as was reported, Impossible Foods turned down the near $300 million buy-out offer and ended up raising $108 million on its own in funding. TechCrunch reports that the veg-burger company likely turned down the favored search engine because they wanted more money – and likely more control of their products.

It turns out the risk was worth it. The company now has a powerful set of investors, including UBS, Viking Global Investors, Khosla Ventures, Microsoft co-founder Bill Gates, and Horizon Ventures. Backed by these influential funders, Impossible Foods is set to launch its veggie burger – which is said to taste so similar to “real meat” that it even bleeds (ew or cool?) – by the end of 2016.

With an increasing amount of consumers opting to consume a plant-based diet to reduce their carbon footprint and improve their health, the hearty burger will no doubt be well-received.

The company was founded by Stanford biochemist Patrick Brown, who also co-founded Kite Hill in partnership with celebrity chef talk Ronnen and cheesemaker Monte Casino. Brown seeks to replicate Kite Hill’s dedication to making healthy, plant-based foods without cholesterol, hormones, or antibiotics with Impossible Foods.

Admirably, Brown – and many of the investors – is committed to feeding the ever-growing population with his faux meat company. Current forecasts estimate that there will be 9.5 billion humans on Earth by 2050, and that’s a lot of mouths that will need to be fed sustainably.

An individual who consumes a predominantly plant-based or vegetarian diet requires much less water to sustain than a meat eater, so crafting a delectable and healthy burger that tastes as good as the real thing will no doubt help consumers make the transition to healthier, more mindful eating.

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