Perfect Day raises $350m from Temasek, Canada Pension Plan; plots IPO

• US alt-dairy startup Perfect Day has raised $350 million in Series D funding, The Wall Street Journal reports. • Singaporean sovereign fund Temasek and the Canada Pension Plan Investment Board co-led the round. Other Series D investors included Disney executive chairman Robert Iger. Perfect Day uses genetically modified microflora to ferment sugar into proteins found in cow’s milk. It then sells these to food manufacturers, such as US ice cream maker and supplier Villa Dolce; the partnership between the two companies, announced earlier this week, marks Perfect Day’s first foray into the foodservice sector.