Impossible Foods Is Said to Eye $7 Billion Value in Fundraising

Plant-based meat producer Impossible Foods Inc., which competes with Beyond Meat Inc., is in talks to raise about $500 million at a valuation of $7 billion, according to people with knowledge of the matter.

Terms of the round aren’t finalized and could still change.

Keely Sulprizio, an Impossible Foods spokeswoman, declined to comment.

Impossible Foods, a maker of beef, pork and chicken substitutes, is looking to capitalize on heightened consumer demand for plant-based meat in recent years. The Redwood City, California-based company has expanded into grocery stores including Walmart, Kroger, Albertsons and Trader Joe’s, as well as ...