Temasek leads funding for energy startup General Fusion, agtech firm Perfect Day

Temasek brand logo (from its social media page)

Singapore’s state investment firm Temasek Holdings has led funding for Canada-based fusion energy startup General Fusion and US-based animal-free dairy startup Perfect Day.

General Fusion raises $65m in Series E led by Temasek 

Vancouver, Canada-based fusion energy startup General Fusion has raised $65 million in a Series E financing round led by Singapore’s Temasek, according to an announcement.

The startup also secured an additional CAD$50 million from Canada’s Strategic Innovation Fund, it said. The new financing will enable it to formally launch a programme to design, construct, and subsequently operate a fusion demonstration plant.

In addition to Temasek, the Cleantech Practice of Business Development Bank of Canada (BDC), the DLF Group, Gimv, I2BF Global Ventures, Disruptive Technology Advisers, Hatch, and several individual impact investors have become new investors in General Fusion.

They were joined in this financing by many existing international investors in the company, including Chrysalix Energy Venture Capital, Bezos Expeditions, Khazanah Nasional Berhad, Braemar Energy Ventures, Entrepreneurs Fund, and SET Ventures.

General Fusion has attracted more than $200 million in funding to commercialise fusion energy.

Perfect Day raises $140m Series C led by Temasek 

Perfect Day, a developer of flora-based (animal-free) dairy, has raised $140 million in a Series C funding round led by Temasek with substantial involvement from existing investors.

The latest funding will help Perfect Day expand its production capacity, forge deeper partnerships and extend its product portfolio.

The Series C round brings Perfect Day’s cumulative funding to over $200 million. The company plans to announce its first commercial partnerships early in 2020.

“Our focus in 2020 will be manufacturing and commercializing the protein in multiple continents, through multiple partnerships spanning different dairy product categories,” Ryan Pandya, CEO and co-founder of Perfect Day, said in a statement.

Perfect Day is engaged in the research, development and production of flora-based, animal-free dairy.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.