What is Perfect Day?
Founded in 2014 by Ryan Pandya and Perumal Gandhi, Perfect Day is at the forefront of sustainable food innovation. The company leverages proprietary fermentation technology to produce 'flora-made' dairy proteins, offering an animal-free alternative to traditional dairy. These proteins can be incorporated into a wide array of food products, including ice cream, milk, cheese, and butter, delivering the familiar taste and texture of dairy without the associated environmental, animal welfare, or food safety concerns. Foods made with Perfect Day's protein are naturally lactose- and cholesterol-free, positioning the company for substantial growth as it expands its partnerships within the food and dairy manufacturing and foodservice industries.
How much funding has Perfect Day raised?
Perfect Day has raised a total of $799.5M across 5 funding rounds:
Series A
$24.7M
Series B
$34.8M
Series C
$300M
Series D
$350M
Series E
$90M
Series A (2018): $24.7M with participation from ICONIQ Capital, Horizons Ventures, Verus International, CGC, Temasek, and Lion Ventures
Series B (2019): $34.8M led by ADM Capital, Horizons Ventures, and Temasek
Series C (2020): $300M supported by Temasek, Thematic Investing, and Horizons Ventures
Series D (2021): $350M featuring Temasek, Robert Iger, and CPP Investments
Series E (2024): $90M backed by Temasek and Horizon Ventures
Key Investors in Perfect Day
Temasek
Temasek, a global investment company founded in 1974 and headquartered in Singapore, acts as a generational investor focused on making a difference with tomorrow in mind.
Horizons Ventures
Horizons Ventures partners have over 20 years of experience assisting entrepreneurs in transforming startup ventures into successful companies, valuing both compelling visions and pragmatic approaches.
CPP Investments
Canada Pension Plan Investment Board (CPP Investments), established in 2002, is a professional investment management organization based in Ontario, Canada, involved in holding or owning securities of companies.
What's next for Perfect Day?
With substantial backing from major investors, Perfect Day is poised for significant expansion and innovation. The recent enterprise-level funding, particularly the strategic investment, signals strong confidence in the company's business model and its potential to disrupt the global dairy market. This capital infusion will likely fuel further research and development, scale up production capabilities, and broaden market penetration. Perfect Day's strategic focus on forging new partnerships and expanding its product applications suggests a trajectory aimed at establishing its animal-free protein as a mainstream ingredient in the food industry, driving a more sustainable and ethical food system.
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