Corporate Profiles - 2021 - 56

INDUSTRY REVIEW: TREND OF THE YEAR
NOTCO
PERFECT DAY
NotCo, a food technology company based in Latin America, uses proprietary
artificial intelligence and machine-learning algorithms that help mimic
animal-based foods using plant-based ingredients. It offers a range of
products throughout Latin America, including NotMilk, NotBurger, NotMeat,
NotIceCream and NotMayo.
Available in 8,000 retail doors in the United States, NotMilk is designed to
deliver taste and texture that replicate dairy-based milk, the company said.
The dairy alternative is made with a blend of pea protein, chicory root fiber,
pineapple juice, coconut oil, sunflower oil and cabbage juice.
In July, NotCo raised $235 million in Series D funding, bringing its valuation
to $1.5 billion, according to the company.
Perfect Day, Berkeley, Calif., produces animal-free milk proteins that provide
the taste and texture of dairy without the environmental consequences of conventional
animal agriculture.
Crafting dairy proteins without cows requires less energy consumption, land
usage, greenhouse gas emissions and water consumption, according to Perfect
Day, which has raised a total of $361.5 million in funding. Production currently
focuses on non-animal whey protein isolate, which may be used in applications
such as frozen desserts, soft cheeses, energy bars and beverages. Next up is
non-animal casein protein, which will unlock a range of functional properties,
such as the stretching and melting of cheese. The founders also are exploring
animal-free milk fats. CP
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Corporate Profiles - 2021

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