Impossible Foods Raises $108 Million in New Funding

Plant-based meat and dairy company Impossible Foods raised $108 million in its latest round of funding, with investors including Swiss bank UBS, Microsoft co-founder Bill Gates, Li Ka-shing’s Horizons Ventures, and Viking Global Investors. The four-year-old California-based company creates plant-based meats and cheeses that imitate the taste and texture of animal products by extracting proteins, fats, and nutrients from sources such as vegetables, grains, and legumes. Impossible Foods’ flagship product is the vegan cheeseburger, and the company plans for the hamburger patties to hit the market in 2016. Earlier this year, the company turned down a $300 million acquisition offer from Google and was ranked 42nd on CNBC’s Disruptor 50 List.