Impossible Foods said Monday it has raised $300 million in its latest funding round.
The company’s announcement follows the initial public offering of Beyond Meat. Its rival’s stock has surged 173% since its debut May 2.
Sales of plant-based products grew by more than 17% last year, according to Nielsen, while other grocery products only grew by 2%.
While the FDA only approved its key ingredient to sell its uncooked Impossible Burgers on grocery shelves this year, it has been in restaurants since 2016. Recently, Restaurant Brands International announced plans to…