Total amount raised
$801.5 Million
Latest funding date
01/01/2024
Location
Perfect Day has successfully raised funding through eight rounds, with the latest being a Series E round. The company is backed by 18 investors, including Horizons Ventures and GERBER-RAUTH.
Keep reading to explore the intricacies of Perfect Day's fundraising journey and the investors backing this innovative platform.
What Is Perfect Day?
Perfect Day is a private company based in Berkeley, California, specializing in producing dairy proteins that are nutritionally identical to those from cow’s milk. The company operates in various industries, including bakery, biotechnology, food and beverage, food processing, and sustainability.
With an employee count ranging from 101 to 250, Perfect Day is committed to creating sustainable, animal-free dairy and protein products through precision fermentation technology. Their mission is to build a kinder, greener supply chain while maintaining the taste and quality of traditional dairy products.
How Much Funding Has Perfect Day Raised?
- Series E
- Amount Raised: USD 90,000,000
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the manufacturing of dairy protein from fermentation and achieve profitability.
- Series D
- Amount Raised: USD 350,000,000
- Date: September 2021
- Lead Investors: CPP Investments, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for scaling operations and expanding product lines.
- Series C
- Amount Raised: USD 160,000,000
- Date: July 2020
- Lead Investors: CPP Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for further development and market expansion.
- Series C
- Amount Raised: USD 140,000,000
- Date: December 2019
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for initial product launches and scaling production capabilities.
- Series B
- Amount Raised: USD 34,750,000
- Date: February 2019
- Lead Investors: Horizons Ventures, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for expanding research and development efforts.
- Series A
- Amount Raised: USD 24,700,000
- Date: February 2018
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for early-stage product development and market entry.
- Seed
- Amount Raised: USD 2,000,000
- Date: September 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for initial research and development.
- Seed
- Amount Raised: USD 60,000
- Date: May 2014
- Lead Investors: SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for early-stage research and company formation.
Perfect Day has raised a total of USD 800,510,000. The current valuation is Not publicly disclosed.
Key Investors
- Temasek
- Details: Temasek is a global investment company headquartered in Singapore. It has a significant role in guiding Perfect Day's strategic direction through Aftab Mathur, who serves as a co-Chairman of the Board.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, Airbnb, Gojek.
- Horizons Ventures
- Details: Horizons Ventures is a venture capital firm based in Hong Kong. Patrick Zhang from Horizons Ventures is a co-Chairman of the Board at Perfect Day, indicating a significant role in the company's strategic direction.
- Investment Focus Areas: Artificial intelligence, biotechnology, clean energy.
- Notable Investments: Facebook, Spotify, Impossible Foods.
- CPP Investments
- Details: CPP Investments is a professional investment management organization that invests the funds of the Canada Pension Plan. It has been a key investor in multiple funding rounds for Perfect Day.
- Investment Focus Areas: Public equities, private equities, real estate, infrastructure, fixed income.
- Notable Investments: Enbridge, Glencore, Petco.
- GERBER-RAUTH
- Details: GERBER-RAUTH is listed as one of the most recent investors in Perfect Day. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- SOSV
- Details: SOSV is a global venture capital firm that operates startup development programs. It was an early investor in Perfect Day, participating in the seed funding round.
- Investment Focus Areas: Life sciences, hardware, software, food.
- Notable Investments: BitMEX, Formlabs, NotCo.
What's Next for Perfect Day?
Perfect Day stands at the cusp of significant growth opportunities, driven by the rising demand for plant-based and sustainable food products. With a recent $90 million pre-Series E funding, the company is well-positioned to scale its manufacturing capabilities and expand its market reach. The plant-based food market is booming, and Perfect Day's innovative approach to producing dairy proteins through microbial fermentation places it at the forefront of this industry trend.
Future fundraising rounds are likely as the company continues to scale and introduce new products. Strategic partnerships and potential acquisitions could further enhance its market presence and technological capabilities. However, challenges such as competition, regulatory hurdles, and maintaining product quality while scaling production remain. Navigating these obstacles will be crucial for Perfect Day's continued success and growth in the evolving food industry.
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