Perfect Day, a leader in the research, development, and production of animal-free dairy, has closed a $140 million series C funding round led by Temasek with substantial involvement from past investors. This third round of funding will help accelerate Perfect Day’s business growth—including expanding its production capacity, going deeper with partner opportunities, and extending its product portfolio.
“In 2019, we showed that our manufacturing process works robustly at commercial scale,” said Ryan Pandya, CEO and co-founder of Perfect Day. “We were able to demonstrate with our ice cream launch—which sold out in a single day—that flora-based protein delivers on the dairy experience, and that people are excited about what we’re doing. Our focus in 2020 will be manufacturing and commercializing the protein in multiple continents, through multiple partnerships spanning different dairy product categories.”
The company plans to announce its first commercial partnerships early in 2020.
Both Temasek and Horizons Ventures—who led Perfect Day’s series B funding earlier this year—have returned to support the company’s growth, alongside past investors. This round brings Perfect Day’s cumulative funding to over $200 million.
Mintel has announced two trends that are impacting the global packaging industry this year: Ahead of the Recycling Curve and In-Store Refill.
According to The Wall Street Journal, Amazon.com introduced its checkout-free technology in a large grocery store, called Go Grocery, in Seattle on February 25.
According to the Associated Press, the U.S. government has decided to allow raw beef products to be imported into the country from Brazil.
Equinom, a seed breeding startup, has closed its Series B round of funding of $10 million, led by BASF Venture Capital, Roquette, and Trendlines Group.
The European Food Safety Authority (EFSA) has released the latest findings from its Eurobarometer survey on food safety from five out of seven EU pre-accession countries—those countries that have applied to join the European Union but have not yet been accepted.