The Canada Pension Plan Investment Board invested US$50 million into the California-based company as part of an extension to its Series C round, which is now at US$300 million. (The Logic)
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The Canada Pension Plan Investment Board invested US$50 million into the California-based company as part of an extension to its Series C round, which is now at US$300 million. (The Logic)
Talking point: This is the first investment under CPP Investments’ climate-change opportunities strategy. “Sustainable technologies like Perfect Day are poised to capture structural shifts in industrial practices, physical resources and consumer preferences for environmentally conscious options, which are well-suited to our long term investing approach,” said Leon Pedersen, head of thematic investing at CPP Investments. Perfect Day said it’s doubled its protein production, which is developed by fermentation in microflora instead of animals, in recent months. With this new funding, it plans to build a network of animal-free protein producers to scale production and bring down costs.
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