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Illustration: Aïda Amer/Axios

Impossible Foods, a Redwood City, California-based maker of plant-based protein products, raised $500 million in Series F funding led by Mirae Asset Global Investments.

Why it matters: This massive round closed last week. Not only is that notable in our new abnormal, confirming what we heard last week about venture capital willingness to cut checks, but it also should help Impossible handle short-term business disruptions.

  • Investors in the round included celebrities like Mindy Kaling and Peter Jackson, and existing shareholders like Horizons Ventures, Khosla Ventures and Temasek.

The bottom line: "Plant-based meat and lab grown meat companies have been gaining traction with many consumers becoming more aware of the environmental impact of industrial husbandry. Rival Beyond Meat is trading at three times its initial public offering price in May and worth around $4.5 billion even after the recent market rout," per Reuters' Jane Lanhee Lee.

Go deeper: The next frontier for plant-based meat

Go deeper

J&J and Merck to partner for COVID vaccine production to boost supply

Empty vials that contained a dose of the Johnson & Johnson vaccine against the COVID-19. Photo: Phill Magakoe/AFP via Getty Images

President Biden will announce Tuesday that pharmaceutical giant Merck will help Johnson & Johnson manufacture its newly authorized coronavirus vaccine to boost supply, a senior administration official tells Axios.

The big picture: The development has the potential to vastly increase supply, possibly doubling what the J&J could make on its own, the official said. The company has run into challenges while trying to expand its vaccine production to a global scale.

Casinos throw cash at sports betting media

Illustration: Sarah Grillo/Axios

Casinos are investing millions on sports betting content to lure bettors to their online and in-person sportsbooks.

Why it matters: It’s a mini gold rush for some sports media companies that were struggling in the pandemic.

Ben Geman, author of Generate
22 mins ago - Energy & Environment

Global carbon emissions rebound to pre-COVID levels

Newly released data show that global CO2 emissions had returned to pre-pandemic levels by the end of last year and surpassed them in some major economies.

Why it matters: The International Energy Agency warned that clean energy efforts are falling short.