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Bill Gates, Li Ka-shing take a second helping of fake burger maker
Impossibe Foods, the startup famous for creating a vegan cheeseburger that actually "bleeds", has whet the appetites of two of the world's wealthiest men - Microsoft co-founder Bill Gates and Hong Kong tycoon Li Ka-shing - and raised a fresh $108 million Series D round of funding.
The round was led by UBS and also included Viking Global Ventures, the firm said. Exisiting investors Gates and Li - who got involved via his VC firm Horizon Ventures - also re-upped for the round alongside Khosla Ventures.
Impossible makes plant-based foods that look and taste like their meat or dairy equivalents but take fewer resources to produce. It is a part of cluster of food start-ups that have emmerged in recent years looking to disrupt unethical meat and diary alternatives.
This isn't Li's first foray into hi-tech food. His Horizon Ventures also backed Modern Meadow, a start-up that experiments with bioengineering animal cells to make cruelty-free leather and meat products.
The firm also backed Just Mayo maker Hampton Creek, as did Khosla Ventures. Hampton is looking provide a range of dairy-free alternnatives to egg-based products. Samir Kaul, partner at Khosla,said:
"To achieve a sustainable future, we need to further invest in companies like Impossible Foods that minimize the environmental impact of our food system through innovation without compromising taste,"