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

·1 min read
European premiere of "The Lion King" in London
European premiere of "The Lion King" in London

(Reuters) - Walt Disney Co <DIS.N> 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 <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 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 <AAPL.O> 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)