Celebs like Jay-Z, Serena Williams, Jaden Smith invest $300 million in plant-based Impossible Foods
That vegan life is about to go viral.
Impossible Foods has become pretty popular offering meatless, plant-based meals and now the company is attracting high-profile celebs to invest in the company.
On Monday, Impossible Foods announced that a litany of celebrities like Jay-Z, Katy Perry, Serena Williams, Jaden Smith, Trevor Noah and Zedd have invested more than $300 million dollars to help fund the growing company, CNN reports.
The company has seen an uptick in interest so much so that it’s been running out of product and could not keep up with demand.
The company has raised some $750 million in funding, the outlet reports. Previous investors include Temasek, a Singaporean investment company, and Horizon Ventures, a venture capital firm in Hong Kong.
The Oakland, California-based company plans to employ 50 new workers at its plant, which currently has a small squad of some 70 full-time employees.
Said Lee, “We are so small today that, until we reach a sizable portion of the overall market, I think we’re going to be growing to meet this scorching demand that we’re seeing today,” he said of the company which launched in 2011. Lee said he’s “going to be hard at work raising capital.”
While Impossible currently only sells to restaurants, the company plans to target retailers with its plant-based protein later this year. It’s competitor Beyond Meat sells to both restaurants and stores and recently went public.
“The more normal the Impossible Burger becomes, the more we will see adoption,” Lee said.
Even more celebrities like Philly’s own Questlove of The Roots has jumped on the Impossible Foods bandwagon with the launch of “Questlove’s Cheesesteak.”
The plant-based sandwich was introduced March 28th at Philadelphia’s Citizens Bank Park. It will be available during all 81 of the Philadelphia Phillies home baseball games this season.