Perfect Day Foods

Perfect Day Foods (formerly Muufri) is based out of San Francisco, California, and was founded in 2014 by Ryan Pandya and Perumal Gandhi. Perfect Day Foods engineered yeast capable of producing the proteins found in cows milk. Strain engineers at Perfect Day Foods made this possible by introducing bovine DNA into yeast cells that make the desired milk proteins. They use these proteins to make their own line of animal-free dairy products. The company claims their animal-free dairy products taste the same as products made from cows milk. Products made by Perfect Day Foods are vegan friendly and include lactose-free milk, cheese, yoghurt and other dairy products.

In an interview Co-founder Perumal Gandhi told the press about what Perfect Day Foods is trying to accomplish, saying "We’re trying to make a Goldilocks product that is better than anything out there: something that has the best of dairy products but also the best of the alternatives".

Perumal Gandhi (Co-founder) and Ryan Pandya (Co-founder and CEO) from Perfect Day Foods talking about their non-dairy dairy products.

Funding

Seed

On September 30, 2014 Perfect Foods completed their seed funding round, raising $2,000,000 from Horizon Ventures.

Series A

On February 27, 2018 Perfect Foods finished their series A funding round, raising $24,700,000 in funding. The primary investor was the Singapore state owned Temasek Holdings which invested 18,700,00 in Perfect days foods and the remaining $6,000,000 came from Horizons Ventures, Continental Grain, Iconiq Capital, Lion Ventures, and Verus International.

Series B

On February 20, 2019 Perfect Day Foods completed their series B funding round with $34.7 million in funding from Temasek Holdings, Horizon Ventures, and Archer Daniel Midland. The funding will be used to help priduce and launch he companies first cellular agricultural product which will be an animal-free whey protein, according to the companies co-founder Ryan Pandya.

Partnerships

Archer Daniel Midland

After announcing their series B funding, Perfect Day Foods also announced a new partnership agreement with Archer Daniel Midland. The partnership agreement was made between the two companies to help perfect Day Foods bring their products to market by scaling fermentation production.

Patents