The Swedish company has retained investment banks Morgan Stanley, JPMorgan Chase, and Credit Suisse to manage the offering, according to sources familiar with the matter.
The Singapore-based startup is diversifying beyond its own cultured milk products to sell its knowhow to the wider cellular agrifood industry.
The city-state’s trade minister predicts “many other companies” will follow Perfect Day and others setting up R&D and manufacturing facilities there.
The Singapore-based startup is expanding beyond breastmilk for babies “to address the nutritional needs of our elderly and adults,” says CEO Fengru Lin.
The Chicago startup promotes its fermented fungal protein as “a whole-food product of nature” in contrast to more heavily processed plant-based products.
AFN speaks to the innovative foodtech startups taking part in the sustainability-focused program run by AgFunder-backed impact fund and accelerator GROW.
Danone’s global farming expertise manager tells AFN how the company is embracing technological innovation in its search for sustainability.
Investment into Innovative Food – which includes cultured meat, plant-based and fermented proteins, and novel ingredients – has been bolstered by Covid-19.
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