Perfect Day Foods, a startup that has created animal-free dairy proteins to use in traditional dairy products, has raised $140 million, upping its total funding to date to over $201.5 million.
Perfect Day was started because alternative-dairy products, per Pandya and Gandhi, were just not good enough.
Pointing at oat milk and nut milk, Pandya said it works to put in a “glass, cereal, or cream up coffee.” But, he says, “the challenge isn’t really milk, it’s all the other things milk can turn into.” He thinks the biggest weakness in alternative dairy products is that while companies have “developed pretty darn good plant-based cheese, it’s not cheese.”
This year, Perfect Day produced a limited edition ice cream with non-animal based whey protein.
While the ice cream launch did well, the startup claims it is more focused on selling to businesses interested in starting their own animal-free food businesses.