Plant-based companies have recently seen a considerable rise in popularity and in celebrity investments. Successful alternative meat brand Impossible Foods recently raised $300 million in funding from investors including Serena Williams, Katy Perry, Jay-Z, Jaden Smith, and will.i.am, among others. The burger is currently sold at about 7,000 restaurants across the US, not including the select Burger King locations serving the Impossible Whopper. With the demand for their product more than doubled, company officials at Impossible Foods recently apologized for the shortage in supply they’ve experienced while struggling to meet the growing demand. The recent funding round will be used to help the brand scale up to supply its growing customer base.
Impossible Foods isn’t alone in celebrity investments. Alternative protein company Beyond Meat, whose IPO is currently the second most successful of 2019, had people clamoring for shares when the company went public May 2. The maker of vegan burgers and sausages has attracted investors such as Leonardo DiCaprio and Bill Gates. Even Snoop Dogg has partnered with the company, driving a Beyond Meat truck around on “Beyond Meat Day” in celebration of the company’s NASDAQ debut.
Vegan companies such as HIPPEAS, RightRice, and Daily Harvest have also attracted celebrity investors, while JUST Inc., maker of the vegan Just Egg, is currently considering when to go public. With Beyond Meat’s success in the stock market and the continued support for plant-based alternatives by celebrities, it’s very possible we’ll see more companies become what Bloomberg has dubbed “vegan-aires.”