Well known vegan celebrities Will. I. Am and Jaden Smith have joined the ever-growing list of backers and invested into the plant-based Impossible Burger.
In the latest round the food/tech startup has managed to score over $300 million in funding. A total of $750 million of VC capital has been pumped into the company since its inception
The round has also excited some other well known plant loving celebrities, including Jay-Z, Katy Perry and Bill Gates. Google Ventures and Horizons Ventures have also taken an interest and placed their hand in the ring with investment capital.
The Impossible Burger Success Story
It is easy to see why so many investors are keen to get behind the company. Their flagship Burger has recently made its way into Burger King where the patty is being used as a vegetarian version of its famous Whopper sandwich.
It has been a limited trial launch, however the news certainly made headlines and is one of the reasons the company is seeing so much growth, (and confident backing.)
The “Impossible Whopper” first rolled out in St Louis on April 1. Burger King executives have been more than pleased with the results and have promised that the burger will be making its way into more stores throughout the U.S. very soon.
Digging a little deeper
So what is the Impossible Burger exactly? Impossible Foods consider the patty to be vegan rather than plant-based. This is due to the original testing of the main ingredient: soy leghemoglobin aka ‘heme’.
Impossible Burger declared that the food product was fed to rats during trial safety tests, with over 180 being killed as a result.
Much controversy surrounded the release of this news, with CEO Pat Brown publishing a statement titled The Agonizing Dilemma of Animal Testing, in order to control the public backlash.
“the core of his company’s mission is to ‘eliminate exploitation of animals in the food system’, as well as reduce the impact of animal agriculture on the environment.”Impossible Burger CEO Pat Brown, a vegan for over 15 years.
While this may have been a slight stumbling block for the company, Brown’s readiness to address the situation head on seemed to have helped.
With the controversy behind them, and the Impossible Whopper hitting more Burger Kings very soon, the future looks bright for the company, (and for the bank accounts of those that have backed it so far).
I don’t know about you, but I will be watching any future news of a possible IPO very closely indeed.