"When we first started this almost eight years ago, we had the simple goal of creating a way to make dairy without animals," Pandya said in a written statement. "We quickly realized that we could maximize our positive impact for the planet and the global food system by applying our technology and know-how across the supply chain." Perfect Day makes its dairy proteins through precision fermentation, a process that involves encoding microbes with information to engineer a protein typically produced by an animal, and producing the protein in a fermentation tank. The non-animal dairy protein pioneer has been widely recognized for its ingredients' potential to shift the paradigm of where dairy proteins come from. In a year of mega-funding rounds for alternative proteins, it's not surprising that Perfect Day is clocking in with an amount that is tied for the largest single haul for a company in this space this year. At the Future Food-Tech conference this summer, Perfect Day Co-founder and CEO Ryan Pandya said cream cheese containing the company's proteins would be available later this year, with 20 other products joining in 2022. Perfect Day is the only company with animal-free dairy ingredients currently on the market, making its debut with ice cream in 2019.The Urgent Company said it will be available in select stores soon, and is available for pre-orders online. Its first launch is three varieties of animal-free cream cheese. Some of these funds will go towards Perfect Day's affiliated CPG company, The Urgent Company, which announced a new brand of animal-free dairy staples: Modern Kitchen.It was co-led by previous investors Temasek and Canada Pension Plan Investment Board and included strong participation from Horizons Ventures, Bob Iger and SK Inc. The funds will be used to fuel the company's focus on biological science, ingredient innovation and consumer products. Animal-free dairy company Perfect Day raised $350 million in a Series D round, bringing its total funding to $750 million.
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