Impossible Foods produces plant-based meat products using plant protein and high-moisture extrusion cooking techniques to transform soy protein into a texture similar to that of meat. Its portfolio includes plant-based beef, sausage, chicken, pork, meatballs, and ready meals.
The company has added several products to its portfolio since launching, including Impossible Chicken Patty , a new range of frozen meals , new plant-based chicken products (Impossible Spicy Chicken Nuggets, Impossible Spicy Chicken Patties, and Impossible Chicken Tenders), the Impossible Indulgent Burger , and the Impossible Beef Hot Dog .
In July 2019, Impossible Foods gained FDA approval to use “Heme”, allowing the company to sell uncooked plant-based burgers at retail outlets as opposed to only selling cooked burgers at foodservice outlets. Further, in November 2023 , the company received the heart-check certification from the American Heart Association (AHA) for its Impossible Beef Lite.
Key customers and partnerships
In March 2022 , Kroger announced a co-branding partnership with Impossible Foods to develop meat alternatives for Kroger’s private label business, thereby expanding its customer base to include more price-sensitive customers. Impossible Foods partnered with Dominos Pizza Australia in October 2022 to launch a new range of plant-based pizzas featuring Impossible Beef. In September 2023 , the company partnered with the American restaurant chain International House of Pancakes (IHOP) to introduce plant-based sausage patties and burgers to IHOP's menus nationwide. Further, in February 2024 , Impossible Foods inked a partnership with the US Army Central to serve plant-based meats at their dining facilities overseas.
Funding and financials
In its latest funding round in November 2021, the startup raised USD 500 million in a venture funding round led by Mirae Asset Global Investments, with participation from returning investors. The latest funding is expected to fuel continued retail expansion, growth across its supply chain, product portfolio, technology platforms, and international expansion.
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