Perfect Day, a Berkeley, CA-based producer of animal-free dairy, raised US$24.7M in funding.
The round was led by Temasek, a Singapore state-owned investment company. with participation from Horizons Ventures, Continental Grain (USA), Iconiq Capital (USA), Lion Ventures, Verus International, and others.
The funding will enable the company to grow the team, accelerate scale-up efforts, and commercialize with a wide variety of partners across the food and dairy sectors.
Led by CEO Ryan Pandya and Perumal Gandhi, Founded in 2014, Perfect Day is creating a more secure, environmentally friendly and nutritious source of protein – without the use of animals.
Through a familiar decades-old fermentation process, Perfect Day produces animal-free dairy proteins with the same nutritional profile and food functionality of the proteins found in cow’s milk.
The company’s dairy proteins are sustainable, vegan, and lactose-free.
Earlier this month, Perfect Day received its first patent for the use of animal-free dairy proteins in food applications.