Impossible Foods has raised $200 million more for its meat replacements.
The new round values the company at a Whopper-sized $4 billion valuation, according to the data tracker PrimeUnicorn Index.
The new round was led by Coatue, a technology-focused hedge fund, another New York-based hedge fund, XN, also participated in the round.
Since its launch the company has raised $1.5 billion from investors including Mirae Asset Global Investments, Temasek. The presence of these new public/private investment firms on Impossible Foods’ cap table could mean that the company is readying itself for an initial public offering, but that’s just speculation.
Impossible previously raised money from investment firms including Horizon Ventures and Khosla Ventures as well as some of the biggest celebrities in the US like: Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.
The most recent price per share is $16.15, an up round from Series F at $15.4139, according to PrimeUnicorn.
The company said it would use the funding to increase its research and development efforts and work on new products like pork, steak, and milk as well as expand its internationalization efforts and build out its manufacturing capacity.
“The use of animals to make food is the most destructive technology on Earth, a leading driver of climate change and the primary cause of a catastrophic global collapse of wildlife populations and biodiversity,” said the incredibly credentialed Dr. Patrick O. Brown, M.D., Ph.D., CEO and Founder of Impossible Foods, in a statement. “Impossible Foods’ mission is to replace that archaic system by making the most delicious, nutritious and sustainable meats in the world, directly from plants. To do that, Impossible Foods needs to sustain our exponential growth in production and sales, and invest significantly in R&D. Our investors believe in our mission to transform the global food system — and they recognize an extraordinary economic opportunity.”