As many investments, new products and R&D have been slowed down in recent months, Perfect Day is continuing to grow at breakneck speed. The fact that the new investment, which makes up about 44% of the company’s total lifetime funding, comes in the midst of the coronavirus pandemic shows that Perfect Day’s product offering remains attractive to investors. It offers a sustainable dairy ingredient that’s ready to go to market, both under its own brand name and through partnerships with other manufacturers.“We never doubted we’d reach this point, we just didn’t expect to get here so quickly,” Ryan Pandya, co-founder and CEO of Perfect Day, said in a statement emailed to Food Dive. “And, thanks to our world-class team and investors, we’re not planning to take our foot off the pedal anytime soon. The coronavirus pandemic has shown just how fragile our food system is.”Pandya, a scientist who previously made antibodies for thecan you take ferrous fumarate when pregnant medical field, teamed up with Perumal Gandhi, who has a degree in biotechnology, in 2014. They worked to understand the science and chemistry behind making dairy proteins without cows. In 201sodium iron edta molecular weight8, the startup entered into a partnership with Archer Daniels Midland to scale and commercialize their dairy proteins. A year later, Perfect Day made its first product: Dairy-free ice cream under its own brand.The company has not said what it would launch next, though it teased possibilities with a collection of images sent to the media in 2019. These options included milk, shredded and natural mozzarella cheese, cream cheese and spreadable cheddar cheese. But Pandya told Food Dive in January the company’s more immediate focus was partnering with fooferrous sulfate nursing considerationsd companies to use its protein as an ingredient rather than market its own products under the Perfect Day label.”There would be no ice cream brand that isn’t aware of us pretty much at this point,” Pandya said. “Every major multinational (company) is talking to us.”And while many are taking notice of Perfect Day’s capabilities as an ingredient, this latest funding round also shows that its sustainability bona fides also are being noticed. Sustainability is a core part of Perfect Day’s philosophy, but it isn’t one that the company broadcasts right now. The World Wildlife Fund notes dairy cows create large amounts of greenhouse gases, huge amounts of water and land are used to feed them, and poorly managed farms can lead to large scale land and water pollution. Consumer concern about sustainability has been growing. A survey conducted by management and consulting firm Kearney this spring found 11% of consumers have shifted their purchases based on environmental claims within the last year, and nearly half became more concerned about the environment during the pandemic. In April, 83% of consumers said they take the environment into consideration when making a purchase.The Canada Pension Plan’s investment in Perfect Day gives a solid endorsement of the company’s sustainability potential, especially since it was chosen as the first investment in the fund’s climate change portfolio. This could pay dividends for Perfect Day that go well beyond the new $160 million in funds announced today.With consumers valuing sustainability, food manufacturers may be more interested in making products with Perfect Day. And consumers will be more interested in seeking out these products, both under Perfect Day’s own brand or from other manufacturers who use Perfect Day’s protein. Increasing investor interest in everything Perfect Day is — vegan, cutting-edge food science and sustainable — continues to make the case for Perfect Day to go public and expand the rmechanism of action of ferrous sulfateeach of investorsferrous sulfate and zoloft participating in its growth.
Perfect Day announces $160M in funding
