Disney’s Bob Iger invests in animal-free dairy startup Perfect Day

In this news, we discuss the Disney’s Bob Iger invests in animal-free dairy startup Perfect Day.

(Reuters) – Walt Disney Co DIS.N executive chairman Bob Iger has invested in Perfect Day and will sit on its board of directors with the co-founders of the animal-free dairy maker, the company said on Wednesday.

The Bay Area startup, which has so far received total funding of $ 360 million, has not disclosed the size of Iger’s investment. It counts Singapore state investor Temasek Holdings and Hong Kong-based venture capital firm Horizons Ventures as its primary investors.

Plant-based or meatless food products have attracted investment from big names, as several large fast food chains introduce these products to their menus to attract consumers who are becoming more aware of what they are eating.

Former Starbucks Corp SBUX.O chief Howard Schultz and celebrities Oprah Winfrey and Natalie Portman have invested in plant-based milk maker Oatly, while plant-based burger maker Impossible Foods has received funding from Bill Gates and Google Ventures, among other high profile investors.

“We are focused on getting to market quickly in the United States and around the world. But we know we can’t do it alone, ”said Ryan Pandya, co-founder and CEO of Perfect Day, upon Iger’s appointment.

Iger previously held a seat on the board of directors of Apple Inc. AAPL.O and resigned last year at a time when the iPhone maker was preparing to launch its Apple TV + streaming service.

Report by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur and Maju Samuel

Original © Thomson Reuters

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