Months before that, CEO Peter McGuinness said in an interview with Bloomberg Technology that the company had a strong balance sheet, good cash flow and growth of between 65% to 70%. In total, Impossible raised $1.9 billion in venture capital, according to Crunchbase data. The last time the company raised capital was a $500 million Series H round in November 2021, and it was at that time that the company was valued at $7 billion. […] Impossible is not the only plant-based meat alternative company to make layoffs in recent months. In a regulatory filing made last October, Beyond Meat said it planned to lay off about 200 employees, or 19% of its workforce, as part of cost-saving measures as sales were slumping.
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