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Impossible Foods raises $114 million to create more plant-based meat

Impossible Burger patties. Photo: Impossible Foods

Impossible Foods, a company developing a plant-based meat alternative and known for its burgers, has raised $114 million in a convertible note led by Singapore's Temasek and Sailing Capital.

Why it matters: There's a growing interest in plant-based alternatives to animal foods, and companies like Impossible Foods, Just, and others have been racing to meet that need.