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Impossible Foods

Plant-based Meat
Plant-based Dairy & Egg
Segments:
Manufacturer (Beef), Manufacturer (Poultry), Manufacturer (Pork)
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Product stage:
Growth
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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.

Plant-based Meat

Plant-based Meat

Key stats
Featured companies
172
Total funding (USD)
7.7 Bn
Total addressable market (USD)
103.5 Bn
Key competitors
 
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Product Overview
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Product Metrics
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Company profile
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EDGE Insights

FoodTech (Q4 2023): Spicing up for Veganuary in a tough market stew
FoodTech (Q3 2023): Cell-cultured meat arrives in the US; plant-based counterparts continue to struggle
FoodTech (Q2 2023): USDA serves up cell-cultured success
Q1 2023 plant-based meat menu: A quarter with a side of uncertainty
Q4 2022 plant-based meat menu: Is the party over?
Plant-based meat: The race toward price parity
Q3 2022 Plant-based meat menu: Plant-based meat losing its sizzle
Q3 2022 Plant-based meat menu: Plant-based meat losing its sizzle
Q3 2022 Plant-based meat menu: Plant-based meat losing its sizzle
Plant-Based Meat Menu 2021: A disappointing end to a meaty year

Recent Updates

Industry news
Mar 14, 2024
Impossible Foods unveils new brand identity and revamped packaging
Plant-based Meat
Partnerships
Feb 8, 2024
Impossible Foods and US Army team up to serve plant-based meat to troops
Plant-based Meat
Management news
Jan 23, 2024
Impossible Foods expands executive leadership team
Plant-based Meat
Product updates
Dec 5, 2023
Impossible Foods to launch plant-based beef hot dogs
Plant-based Meat
Product updates
Nov 9, 2023
Impossible Foods' Beef Lite earns AHA heart-check certification
Plant-based Meat
Partnerships
Sep 27, 2023
Impossible Foods partners with IHOP to offer vegan menu items nationwide
Plant-based Meat

Company Brief


HQ location:
Redwood City CA USA
Founded year:
2011
Employees:
501-1,000
Total Funding:
USD 1.9 billion
Last Funding
USD 500.0 million, Nov 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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