Source: Impossible Foods
Impossible Foods announced today the hiring of tech industry veteran Sheetal Shah as Senior Vice President, Product and Operations. The company makes meat from plants – with a much smaller environmental footprint than meat from animals. Burger King recently announced the nationwide roll-out of the "Impossible Whopper" which makes it the first meat replacement patty to roll out with one of the largest fast food chains.
Shah was previously Chief Operations Officer at Verifone, where he oversaw global operations including supply chain, customer care, quality and program management for customers in more than 150 countries. He will oversee important business units of the food tech startup including product, operations, manufacturing, supply chain and logistics. He reports directly to Impossible Foods’ President Dennis Woodside, who joined the company earlier this year with nearly 25 years of professional experience.
Impossible Foods also announced that the company has raised $300 million led by previous investors Temasek, the investment arm of the Singaporean government, and Horizons Ventures, the personal venture fund of Hong Kong multi-billionaire Li Ka-shing. The financing allows the company to compete with Beyond Meat which recently went public at a $3 billion valuation. Both companies are looking to provide plant-based replacements for animal proteins, but while Beyond Meat has focused on consumers in the grocery store, Impossible Foods has focused on restaurants and business-to-business sales.