Impossible Foods has raised another $300 million to satisfy the demand for its plant-based alternatives to meat – and celebrities are joining in.
Jay-Z, Katy Perry, Serena Williams, Jaden Smith, Trevor Noah, and Zedd are all among the slew of investors Impossible Foods announced Monday.
Overall, Impossible Foods has raised more than $750 million.
Celebrity investment in Impossible may be another sign that realistic meat alternatives have become incredibly trendy.
Some consumers are trying to eat less meat for health reasons and to reduce their impact on the environment, so the demand for plant-based protein is on the rise.
This year, Impossible Foods has seen such a spike in demand that it has been running out of the product.
To keep up, Impossible plans to hire at least 50 new employees at its Oakland, California, factory, which currently employs about 70 full-time employees.
“There will be times when we have more supply than the demand immediately available, and soon enough we’ll outgrow that ability to supply.” Lee said that he thinks it will “Take a little bit of time” before Impossible is able to meet the level of demand it is seeing today.
As meat eaters become more open to eating plant-based proteins, demand will continue to grow, Lee said.
“The more normal the Impossible Burger becomes, the more we will see adoption,” he said.
Impossible currently only sells its plant-based protein products to restaurants but plans to launch in retail stores this year.