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Meatless burger startup Impossible Foods raises $75 mn

Investing.com - Impossible Foods, a startup that makes burgers using vegetable products, said it has raised $75 million in extra funding.Open Philanthropy Project, Bill Gates, Khosla Ventures and Horizon Ventures contributed to the latest fund raising.That was the 5th round of fund-raising by the company. The latest round was led by Singapore investment firm Temasek.Impossible Foods has now raised $257 million since the Silicon Valley-based company was set up.The company mainly uses wheat and potato proteins with coconut fat to make burger that taste like meat.Impossible Foods says it is “on a mission to make the global food system more sustainable.” The burgers are served in 40 restaurants, mainly in California, Texas and New York.The firm plans to move most of its production facilities from Rutgers, New Jersey to Oakland, California in the fall.

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