Perfect Day, maker of animal-free milk protein, has raised $350 million in a series D funding round, bringing the company’s total funding to $750 million. The funding will be used to expand the company’s focus on biological engineering, ingredient innovation, and consumer products.
“When we first started this almost eight years ago, we had the simple goal of creating a way to make dairy without animals," said Ryan Pandya, co-founder and CEO, in a statement. "We quickly realized that we could maximize our positive impact for the planet and the global food system by applying our technology and know-how across the supply chain."
The company also intends to provide technology development services for companies looking to harness the sustainability and scale of Perfect Day.
"We first got into the ingredient business because food companies, big and small, were eager to work with the ingredients we had successfully scaled," said Perumal Gandhi, Perfect Day’s co-founder, in a statement. "Today, something analogous is happening on the technology side. There are innovators all over the world with ideas and ambitions similar to our animal-free milk protein, but need help getting there. We're standing up business models to be able to share our demonstrated capabilities in a way that maximizes upsides for all, yet ensures that Perfect Day remains at the forefront of our new industry."
Related: 12 Under 35: Perumal Gandhi and Ryan Pandya, Perfect Day; Perfect Day Forms Sustainability, Health Advisory Council.
Image: Perfect Day
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