A new investor, Mirae Asset Global Investments from South Korea, led the round. Previous investors did participate, however, such as Khosla Ventures, Horizons Ventures, and Temasek. This funding comes a few weeks after the company marked down its wholesale prices by 15% for food service outlets in the U.S. While Impossible Foods works its way toward price parity with conventional meat, the amount of funding highlights the capital-intensive nature of doing so. Any potential newcomers to plant-based meat will need to find ways to fail cheap and fail fast in order to avoid an expensive bust. Impossible Foods is not headed in that direction, but with the space becoming heavily crowded, the likelihood of failure is only increasing.
For the original news article,