Cash Flow: Impossible Foods Banks $200M, Hint Water Fuels Growth With $25M, Carrot Fertility Raises $24M

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The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Impossible Foods closes $200m in new funding

Impossible Foods has secured $200m in its latest funding round, led by new investor Coatue. The round, which also featured participation from Mirae Asset Global Investments and Temasek raises its total funding to date, to $1.5bn.

The plant-based meat brand has said it will use the funds in part to expand its research and development programs; accelerate its manufacturing scaleup; increase its retail presence and its availability in key international markets; and accelerate commercialization and development of next-generation, plant-based products, such as Impossible Pork, milk, steak and other foods.

Lemon Perfect closes undisclosed funding round to propel growth

Lemon Perfect, an innovative cold-pressed lemon water brand has closed a significant funding round from an influential network of investors including Beechwood Capital, The Big Squeeze, LivWell Ventures, and more.

The Company plans to use the capital raised to fund distribution growth, increase marketing support, and recruit key talent. In February, the startup announced a key distribution deal with New York’s Big Geyser, one of the country’s largest distributors of premium non-alcoholic beverages and snacks.

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Image: Lemon Perfect

Carrot Fertility secures $24m to continue global expansion

Carrot Fertility, a leading global fertility benefits provider for employers has closed a $24m Series B funding round led by US Venture Partners. The funding will be used to fuel Carrot’s global expansion, deepen product development in telehealth and telemedicine features across the fertility care continuum, and hire top talent.

Since its launch in 2016, Carrot has signed on more than 100 companies, including Box, Snap, Inc., and Peloton. Its growth has been driven by employers and health plans seeking a better way to deliver high-quality, clinically-managed fertility care.

Hint Water banks $25m to fuel growth

Flavoured water brand Hint has closed a $25m Series D financing round led by Springboard Growth Capital. Additional investors included Philippe Laffont, Gingerbread Capital and Medina Heights Capital Partners.

Available in more than 30,000 retail outlets nationwide, Hint water is growing eight times faster than the premium still water segment overall, with retail sales growth surpassing 80% in the past 52 weeks, according to SPINS data. 

It plans to use the latest funding to fuel this continued growth online and in retail stores.

Gymshark awarded unicorn status following investment

Athleisure brand Gymshark has hit £1.3bn in valuation after raising capital from growth equity investor General Atlantic.

The investment, which is rumoured to be in the region of £300m, will see General Atlantic take a 21 percent stake in the fast-growing startup. The fast-growing brand hopes the partnership will facilitate further growth in North America where it already boasts its largest customer base.

Lotus Bakeries’ venture fund invests in Love Brands

Lotus Bakeries’ venture fund FF2032 has invested in Love Brands, makers of corn snack Love Corn. The deal will see Lotus Bakeries taking a minority stake in the US company.

Lotus Bakeries says that Love Brands will use the funds to accelerate growth by investing in marketing and expanding its workforce. The funds will also be used to finance working capital growth.

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