Stock Groups

Impossible Foods raises $500 million in latest funding round led by Mirae -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: Impossible Foods plants-based beef products were seen inside a fridge in the meat section at a Hong Kong chain supermarket, China on October 20, 2020. REUTERS/Lam Yik/File photo

(Reuters) -Faux beef product manufacturer Impossible Foods announced Tuesday that it has raised almost $500 million through a round of funding led by Mirae Asset Global Investments.

The recent funding of the rival Beyond Meat (NASDAQ 🙂 comes just ahead of an expected stock exchange listing next year in America.

Reuters reported that Impossible Foods had prepared for a public listing, which could have a value of around $10 million or more.

According to the report, the company plans on going public within the next twelve months via an initial public offer (IPO) or merger with a special acquisition company (SPAC).

With the addition of existing investors, the latest round brings total fund raises to $2 billion, since 2011 when the company was established.

California’s Impossible Foods has high-profile backing, including Microsoft Corp (NASDAQ) Bill Gates was co-founder of Google (NASDAQ) Ventures and UBS Group AG.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]