Fake meat firms raise funds for growth

Faux-meat firms are poised to increase capacity and product introductions thanks to new investment. Impossible Foods has received an equity injection of $500 million from Mirae Asset Global Investments, Khosla Ventures, and others, bringing its total funding to $1.3 billion. The company, famous for plant-based burgers that “bleed,” is adding a pork substitute and has quadrupled production capacity. Meanwhile, Nature’s Fynd—formerly Sustainable Bioproducts, a C&EN Start-Up to Watch in 2019—raised $80 million in a new funding round. The firm is developing meat-like products from fungal mycelium.