Perfect day just closed a $140m round. It has now raised more than $200m. The startup works on the equivalent of clean meat but for dairy. It has developed a fermentation process (through genetic engineering) that reproduce the various proteins of milk. At the end of the process, you basically have “milk” but without the cow.
This process is already working. Earlier this year, the company marketed some ice cream based on its lab-grown milk.
Why it matters?
Even if this summer ice cream test gave a lot of attention to Perfect Day, building B2C products is not its goal. The startup aims to grow through B2B deals by providing its proteins to manufacturers. It is now planning to increase its production to thousands of metric tons in the next couple of years.