The Impossible Whopper launched across Burger King's 7,000 U.S. locations in spring 2019. Getty ImagesImpossible Foods raised $500 million in a round that closed late last week, and part of it will go towards fighting volatility related to the Coronavirus pandemic, the company disclosed early Monday. Lee declined to say whether Impossible has seen a recent spike in grocery store sales, as many brands have reported amid nationwide stockpiling. “With what’s happening in the world, it’s important to reassure our customers that we are built to withstand short-term shocks,” Lee said. Reuters reported in November that Impossible was looking to raise between $300 and $400 million, which could have doubled its then valuation of $2 billion.

Source: Forbes March 16, 2020 04:52 UTC