Impossible Foods earned $200 million in its last financing circular, raising the overall budget raised through the meat company to $1.5 billion since its founding in 2011.

The G Series led through Coatue, founded in New York, marking the hedging fund’s first investment in the company. It also included contributions from existing investors Mirae Asset Global Investments and Temasek, as well as the new investor XN.

Funding comes less than six months after Impossible Foods raised about $500 million in what is believed to be one of the investment rounds for a new generation of food.

Impossible Foods plans to use capital to expand its studies and progression programs, boost its manufacturing scale, build its retail presence and overseas availability, and continue to expand new products.

Over the more than six months, the California-based company said it has set new sales and production records, as its Impossible Burger has been made available in more than 8,000 grocery retail stores nationwide, an increase of 60 times.

The G Series also largely follows the launch of Impossible Sausage, the startup’s first new product since the launch of Impossible Burger in 2016. Since its inception, Impossible Sausage has been eaten in more than 22,000 restaurants.

To meet the increased demand, the new food generation company says it has “significantly higher” production and introduced its direct-to-consumer sales site.

“2020 has been an explosive year of expansion for us, yet this is the beginning,” said David Lee, Chief Financial Officer of Impossible Foods.

He added: “We plan to create herbal innovations for the primary category of animal food products. This investment will allow us to continue to expand and commercialize the generation that will allow this transformation”.

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