Not Impossible Valuations: Impossible Foods Has All the Buzz (And Market Cap)
by: Dan Spaeth, Senior Managing Partner, IP Advisory
The size of the plant-based U.S. "meat market" is estimated at $12.1 billion in 2019 and is projected to grow to $27.9 billion by 2025. The bigger "meat-eater carnivore" market could be as big as $2 trillion. That figure should pop some eye balls! Enter Impossible Foods (IF) , the 2011 start-up behind the Impossible Whopper.
IF announced a $300 million Series E funding round in May to try to keep up with demand for its products. IF's mission - "To Save Meat. To Save Earth." IF says its plant based products are now in 10,000+ restaurants (BK, White Castle, Red Robin...). On July 31, the FDA approved a key ingredient included in Impossible Foods products. Hence, they plan to expand to grocery stores. Want to jump on the competitive band wagon? Not so fast...
In 2017 the company disclosed "...that the US Patent and Trademark Office issued US Patent No. 9,700,067 covering Impossible Foods’ technology to use leghemoglobin in plant-based meat. The 200-person startup has more than 100 additional patents pending." More IP has entered the pipeline since then. Do you have plans to play in this rapidly growing market? Where does IP fit into your strategy?
Techson IP can help ID risks and opportunities and actions to address them.