© Perfect Day
US-based alt-dairy start-up Perfect Day has announced that it has raised a pre-Series E financing round of up to $90 million.
Led by internal investors, the company says it will use the funding to support its evolving strategic goals. Perfect Day says it has successfully de-risked its technology and is now moving its focus to executing the scaled manufacturing of its whey protein from fermentation, which will give it a “clear path to profitability”.
Perfect Day’s former CEO Ryan Pandya
Perfect Day’s interim CEO TM Narayan
Interim CEO TM Narayan commented: “It is an honour to be a part of leading Perfect Day into its next chapter of impact, and to continue building a kinder, greener tomorrow with this mission-driven team. Pandya and Ghandi achieved well beyond what anyone could have imagined possible when they founded Perfect Day in 2014, and we are now laser-focused on scaling that vision and securing a resilient future for the business and our planet”.
Patrick Zhang, Perfect Day co-chairman of the board and investor at Horizons Ventures, added: “It has been an incredible journey with Perfect Day to date, and I’m excited to work even more closely with the company as it grows into its next chapter of impact”.
Perfect Day says it plans to announce a “major CPG partner launch” with its whey product in the coming weeks, as well as new molecules which will bring the impact of precision fermentation to more products and markets.
© FoodBev Media Ltd 2024
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