Perfect Day Caps Off Week With $350 Million Round

<p><span class&equals;"xn-location"><strong>BERKELEY<&sol;strong> &&num;8212&semi; <&sol;span>Perfect Day&comma; Inc&period;&comma; best known as the creator of the world&&num;8217&semi;s first animal-free milk protein&comma; has scored a <span class&equals;"xn-money">&dollar;350 million<&sol;span> Series D funding round intended to fuel the company&&num;8217&semi;s expanded focus across biological engineering&comma; ingredient innovation&comma; and consumer products&period; The round&comma; co-led by Temasek and Canada Pension Plan Investment Board &lpar;CPP Investments&rpar;&comma; included participation from long-term investors such as Horizons Ventures and Walt Disney Chairman <span class&equals;"xn-person">Bob Iger<&sol;span>&comma; as well as SK&comma; Inc&period; who deepened their role with Perfect Day in this funding series&period; The round brings Perfect Day&&num;8217&semi;s total funding up to <span class&equals;"xn-money">&dollar;750 million<&sol;span>&period;<&sol;p>&NewLine;<p>Instead of relying on cows&comma; Perfect Day utilizes microflora to create proprietary animal-free milk protein&period; Perfect Day&&num;8217&semi;s protein can be used across a range of products to deliver the same taste and texture without compromise&period;<&sol;p>&NewLine;<p>&&num;8220&semi;When we first started this almost eight years ago&comma; we had the simple goal of creating a way to make dairy without animals&comma;&&num;8221&semi; said <span class&equals;"xn-person">Ryan Pandya<&sol;span>&comma; co-founder and CEO&period; &&num;8220&semi;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&period;&&num;8221&semi;<&sol;p>&NewLine;<p>This mindset led&comma; in 2016&comma; to the company&&num;8217&semi;s expansion into B2B supply chain innovation&comma; selling protein to food companies&semi; and in 2019&comma; to the founders&&num;8217&semi; foray into consumer products through The Urgent Company &lpar;TUC&rpar;&comma; now a full-fledged part of the Perfect Day umbrella&period;<&sol;p>&NewLine;<p>In mid-2020&comma; Perfect Day added SBF&comma; Inc&period;&comma; a bioprocess scale-up facility located in <span class&equals;"xn-location">Logan&comma; Utah<&sol;span>&comma; to the corporate portfolio&period; Now&comma; in addition to ingredient innovation and consumer products&comma; the company intends to expand its offerings into &&num;8220&semi;enterprise biology&comma;&&num;8221&semi; providing technology development services for companies looking to harness the sustainability and scale that Perfect Day has proven it can deliver&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We first got into the ingredient business because food companies&comma; big and small&comma; were eager to work with the ingredients we had successfully scaled&comma;&&num;8221&semi; said <span class&equals;"xn-person">Perumal Gandhi<&sol;span>&comma; Perfect Day co-founder&period; &&num;8220&semi;Today&comma; something analogous is happening on the technology side&period; There are innovators all over the world with ideas and ambitions similar to our animal-free milk protein&comma; but need help getting there&period; We&&num;8217&semi;re standing up business models to be able to share our demonstrated capabilities in a way that maximizes upsides for all&comma; yet ensures that Perfect Day remains at the forefront of our new industry&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;I&&num;8217&semi;ve been so impressed by what Perfect Day has done in such a short time&comma;&&num;8221&semi; said <span class&equals;"xn-person">Bob Iger<&sol;span>&comma; Executive Chairman and Chairman of the Board&comma; The Walt Disney Company&period; &&num;8220&semi;I look forward to continuing to be part of their journey&period;&&num;8221&semi;<&sol;p>&NewLine;<p>SBF&comma; Perfect Day&&num;8217&semi;s &&num;8220&semi;enterprise biology&&num;8221&semi; business&comma; is already profitable with a strong roster of customers&period; TUC&&num;8217&semi;s first brand&comma; Brave Robot&comma; is <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3308070-1&amp&semi;h&equals;3050622207&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;prnewswire&period;com&percnt;2Fnews-releases&percnt;2Fthe-urgent-companys-brave-robot-is-top-category-growth-driver-in-its-debut-year-301383952&period;html&amp&semi;a&equals;the&plus;leading&plus;growth&plus;driver" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">the leading growth driver<&sol;a> for plant-based ice cream&comma; available in over 5&comma;000 grocery stores&comma; including Kroger&comma; Sprouts&comma; and Stop &amp&semi; Shop&comma; across <span class&equals;"xn-location">the United States<&sol;span>&period; Building upon this success&comma; Perfect Day is further investing in TUC with the launch of its next brand&comma; Modern Kitchen&period; Soon to offer a range of household dairy staples&comma; Modern Kitchen will debut animal-free cream cheese to select stores in the months ahead and is now available for preorder at <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3308070-1&amp&semi;h&equals;1591623230&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Featmodern&period;kitchen&percnt;2F&amp&semi;a&equals;eatmodern&period;kitchen" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">eatmodern&period;kitchen<&sol;a>&period;<&sol;p>&NewLine;