WASHINGTON (dpa-AFX) - Impossible Foods, popular for veggie burgers that taste like meat burgers, announced that it has raised $75 million in investment from a Singapore-based venture fund, Temasek, Bill Gates, Khosla Ventures, and others.
This funding brings the company's total funding to nearly $300 million dollars.
The company is currently constructing a new production factory in Oakland, California, which will improve its production capacity from enough burgers to supply only eight restaurants to enough for 1,000 restaurants. They also have plans to introduce a retail flagship store within the next few years.
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