Beyond Meat rival Impossible Foods raises another $300 million

Impossible Foods said Monday it has raised $300 million in its latest funding round. The company’s announcement follows the initial public offering of Beyond Meat. Its rival’s stock has surged 173% since its debut May 2. Impossible Foods has raised more than $750 million, with help from investors like Bill Gates, Google Ventures and Serena Williams. Sales of plant-based products grew by more than 17% last year, according to Nielsen, while other grocery products only grew by 2%. While the FDA only approved its key ingredient to sell its uncooked Impossible Burgers on grocery shelves this year, it has been in restaurants since 2016. Recently, Restaurant Brands International announced plans to take its Impossible Whopper — Burger King’s signature sandwich made with the bleeding vegan patty — nationwide after testing it in April..MORE