The company behind the veggie burger that bleeds its own blood just closed on a $108 million round of funding. According to TechCrunch, investors in California-based food start-up Impossible Foods now include Microsoft co-founder Bill Gates and Hong Kong business tycoon Li Ka-Shing. The company reportedly also raised $75 million from investors in a previous funding round.
The Wall Street Journal writes that Impossible Foods was founded in 2011 by Patrick Brown, a former biochemistry professor at Stanford. Brown also co-founded Kite Hill, a company that produces almond milk cheeses and vegan cream cheese-like spreads that are sold in stores like Whole Foods. Through Impossible Foods, Brown is attempting to produce plant-based meat and dairy products, such as bacon and chicken, that contain no cholesterol, hormones, or antibiotics, notes CNBC. Brown says his company also aims to help feed the "ballooning population of people on Earth." In 1940, the population was three billion, but forecasts estimate that by 2050, there will be 9.5 billion humans on the planet.
The tech world appears to really believe in the potential of the company. Before Bill Gates invested in Impossible Foods, the start-up was in talks with Google. In July, the search engine giant tried to buy Impossible Foods for $300 million. However, the deal fell through because the company wanted more than what Google was willing to pay.