Impossible Foods expands into Australia and New Zealand as Future Farm raises US$58m to fund future growth

AUSTRALIA— Plant-based protein company Impossible Foods has expanded its international footprint with recent launch of its flagship product, Impossible Beef in Australia and New Zealand.  

Food Standards Australia New Zealand, Australia and New Zealand’s regulatory body, earlier this year approved Impossible Foods’ key ingredient, heme (soy leghemoglobin), for use in plant-based meat products, paving way for the launch.   

Impossible Foods, in a statement, revealed that its plant-based beef is now available in Auckland, New Zealand, the Greater Sydney area, and nationwide across Australia at Grill’d. 

The recent launch adds to Impossible Foods expanding global footprint which is now comprised of the United States, Canada, Singapore, Hong Kong, and the United Arab Emirates. 

“Our launches in Australia and New Zealand are another huge step towards bringing delicious, sustainable options to every market in the world,” said Dennis Woodside, president of Redwood City, Calif.-based Impossible Foods. 

“Both countries are home to some of the most devoted meat-eaters on earth, and we know consumers there are going to love Impossible Beef.” 

Future Farm’s US$58m Series C funding 

Meanwhile in Los Angeles, United States, Impossible Foods’ peer Future Farm, has raised US$58 million in a Series C funding round led by BTG Pactual and followed by Rage Capital. 

Future Farm offers premium plant-based patties, formulated with soy, peas, chickpeas, and beetroot, that are priced competitively at more than 10,000 retail locations throughout Europe, Latin America, Asia Pacific and, recently, the United States

Its portfolio of plant-based meat alternative includes Future Burger, Future Sausage, Future Beef, and Future Meatballs. 

“We’re incredibly proud of this investment and those behind it, not only to validate the immense opportunity that exists within the category, but also to mark a new chapter for Future Farm, as we work toward innovating more plant-based offerings to create a portfolio inclusive of meat, seafood, poultry, and dairy,” said Marcos Leta, founder of Future Farm.  

“In order to change the way the world eats, by making slaughterhouses and animal-protein products obsolete, we will continue bringing consumers into the category with quality, variety and flavor, and delivering joy and deliciousness to the experience of plant-based eating.” 

Future farm’s recent funding raises its total funding to date to US$89 million, pushing its valuation to US$400 million.  

Funding from earlier rounds was used by the plant-based startup to accelerate product development and expand into additional markets around the world.  

The company plans to use the latest funding to continue these efforts while advancing its goal of using 100% sustainable and plant-based packaging composed of sugar cane. 

The funds will also be crucial in helping the company actualize its plans to debut Future Tuna and Future Chick’n as well as supporting expansion into plant-based drinks and dairy segments. 

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