# Perfect Day

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/perfect-day

- Industry: Food
- Headquarters: Berkeley, US
- Website: www.perfectday.com
- Total disclosed funding: $535M
- Latest round: Series D (Sep 30, 2021)
- Investors on record: 11

## About

Perfect Day, Inc. is a US-based food technology company revolutionizing the dairy industry with animal-free proteins created through precision fermentation, providing sustainable and cruelty-free alternatives for consumers.Founded in 2014 in Berkeley, US, Perfect Day, Inc. specializes in producing animal-free dairy proteins. The company recently raised USD 90 mn in Series E funding on January 5, 2024, marking its seventh funding deal. CEO Ryan Pandya is one of the co-founders, alongside Natasha Case and Perumal Gandhi.Perfect Day is pioneering the market with its flagship product ProFerm, a premium protein derived from precision fermentation technology that mimics the process of traditional dairy production without the use of animals. This innovative protein is designed to power a variety of sustainable dairy applications, including cheese and yogurt alternatives, thereby addressing the growing consumer demand for eco-friendly and cruelty-free food options. The company targets a diverse client base that includes food service providers, consumer brands, and retail partners across major markets such as North America, Europe, and parts of Asia. By focusing on sustainability and taste, Perfect Day aims to enhance the food supply chain, positioning itself as a leader in the emerging category of animal-free dairy products.Perfect Day's revenue model is primarily structured around B2B partnerships and direct transactions with consumer brands and food service operators. Through these collaborations, the company supplies ProFerm and other associated products to its partners, enabling them to create innovative dairy alternatives that align with consumer trends toward sustainability. The transaction framework often involves negotiated agreements based on volume and application, allowing partners to leverage Perfect Day's proprietary technology in their offerings. While specific pricing details for ProFerm and other services are not disclosed, the company’s focus on establishing long-term partnerships positions it for steady revenue growth as the demand for sustainable food products continues to rise.In January 2024, Perfect Day, Inc. raised USD 90 mn in Series E funding from unspecified investors, which will be utilized to support its strategic goals. The company plans to expand its product offerings and enter new markets, targeting growth in North America, Europe, and parts of Asia. The funding will also facilitate the development and launch of additional innovative products in the animal-free dairy sector.

## Funding rounds

- Series D, Sep 30, 2021, $350M — Temasek Holdings, CPP Investment Board, SOSV, SK, Horizons Ventures, Synthesis Capital
- Series C, Jul 8, 2020, $160M — Temasek Holdings, CPP Investment Board, Horizon Founders Capital
- Series A, Mar 1, 2018, $25M — Temasek Holdings, Continental Grain Company Pension Plan, Horizons Ventures, ICONIQ Capital, Verus International, LionVentures

## Investors

- Temasek Holdings — Series A, Series C, Series D
- Continental Grain Company Pension Plan — Series A
- Horizons Ventures — Series A, Series D
- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Series A
- Verus International (https://capitalatlas.ai/funds/verus-international) — Series A
- LionVentures — Series A
- CPP Investment Board — Series C, Series D
- Horizon Founders Capital (https://capitalatlas.ai/funds/horizon-founders-capital) — Series C
- SOSV (https://capitalatlas.ai/funds/sosv) — Series D
- SK — Series D
- Synthesis Capital — Series D