REDWOOD CITY, CALIF. – Impossible Foods has raised approximately $500 million in its most recent funding round, bringing the company’s total funding since it was founded in 2011 to nearly $2 billion. The most recent round of investment was led by Mirae Asset Global, an existing investor, with participation from other Impossible Foods investors.

This money raised will enable Impossible Foods’ continued growth in retail and across its supply chain, product portfolio, technology platforms, and international expansion plans, according to the company. During the past 14 months Impossible Foods entered four new international markets, including Australia, Canada, New Zealand and the United Arab Emirates.

In March 2020, Mirae Asset Global helped raise $500 million in funding and that was followed by an additional $200 million raised in August 2020 that was led by Coatue.

“Mirae Asset is excited to double down on the team at Impossible Foods as they continue transforming the global food system,” said Thomas Park, president of Mirae Asset Global Investments (US). “It is important to us to partner with true innovators like Impossible Foods’ CEO Pat Brown and support the entire Impossible Foods team as they work to solve one of the most critical challenges facing our planet — climate change.”

New products introduced by Impossible Foods during the past four months include Impossible Sausage, Impossible Chicken Nuggets, Impossible Pork and Impossible Meatballs.

The funding announcement comes at a time when the retail sales of fresh and frozen plant-based meat alternatives are decelerating. Both Maple Leaf Foods, Inc., and Beyond Meat cited the deceleration in recent quarterly earnings calls.