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.