Plant-based meat 'has arrived', according to Good Food Institute Executive Director Bruce Friedrich.
Friedrich made the comments following news that plant-based startup Impossible Foods raised $300 million in a single funding round - taking the company's total money raised to a staggering $750 million - with investors including Jay-Z, Ruby Rose, and Will.I.Am injecting cash into the business.
The funding haul was the biggest ever for a plant-based meat company - with Friedrich saying the surging investment 'offers huge opportunities for new startups and big food companies'.
"Last year, Impossible Foods shattered VC fundraising records for plant-based meat when it raked in $189 million," Friedrich told Plant Based News. "Now, Impossible Foods has just brought in the largest fundraising round for a plant-based meat company in history.
"This comes just a few weeks after Beyond Meat raised roughly $240 million in its IPO before the company’s stock shot up by 163 percent in one day.
"The success of Impossible Foods and Beyond Meat is proof that plant-based meat has arrived. With these two companies now valued in the billions of dollars, it's clear that the plant-based meat market is both hot and here to stay."
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Maria is the Editor of Plant Based News. A former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers. She was previously the editor of Vegan Life magazine and Vegan Trade Journal. She has interviewed a huge range of people, from Prime Ministers to authors, activists, pop stars and actors, and enjoys the varied range of topics writing for PBN allows her to tackle. You can follow her on Twitter @MariaChiorando and Instagram @mariachiorando.
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