Temasek leads $24.7m round in US-based animal-free dairy firm Perfect Day

Temasek leads $24.7m round in US-based animal-free dairy firm Perfect Day

Photo: Perfect Day's Facebook page

Singapore’s Temasek has led a $24.7-million Series A round in California-headquartered Perfect Day, an animal-free dairy producer, marking yet another investment by the sovereign wealth fund in the emerging food tech space.

In a statement, Perfect Day said the fundraising was the largest Series A in the history of the sustainable food technology industry. Early backer Hong Kong-based venture capital firm Horizons Ventures also joined the funding round, along with Continental Grain (USA), Iconiq Capital (USA), Lion Ventures, Verus International, and others.

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