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

10/21/2020 | 02:59pm EST
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(Reuters) - Walt Disney Co Executive Chairman Bob Iger has invested in Perfect Day and will serve on its board along with the animal-free dairy products maker's co-founders, the company said on Wednesday.

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

Plant-based or meatless food products have been luring investments from big names as several major fast-food chains introduce such items in their menus to draw in consumers who are becoming more conscious about what they eat.

Former Starbucks Corp 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 funds from Bill Gates and Google Ventures, among other high-profile investors.

"We're focused on rapid commercialization in the U.S. and globally. But we know we can't do it alone," Perfect Day co-founder and Chief Executive Officer Ryan Pandya said on Iger's appointment.

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

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur and Maju Samuel)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 2.33% 1795.36 Delayed Quote.34.04%
APPLE INC. 3.08% 122.72 Delayed Quote.62.17%
STARBUCKS CORPORATION 0.82% 98.82 Delayed Quote.11.49%
WALT DISNEY COMPANY (THE) 0.97% 149.44 Delayed Quote.3.33%
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