Berkeley, California- headquartered food technology startup Perfect Day Inc., acquired Gujarat-based Sterling Biotech through the liquidation process, via an e-auction. Founded in 1985 the Indian company provides active pharmaceutical ingredients. It owns two manufacturing facilities – one in Gujarat and the other in Tamil Nadu. The facilities are outfitted for other premium, pharmaceutical-grade ingredient production, including gelatin and dicalcium phosphate.
Perfect Day will invest $124 million on scaling up production that involves manufacturing and exporting animal-free milk protein from Sterling’s facilities in India. The company said it had received approval from the food regulator Food Safety and Standards Authority of India to sell its animal-free milk proteins.
Ryan Pandya, CEO of Perfect Day said, “Sterling was interesting because they’re already manufacturing high-quality pharmaceutical ingredients. And it turns out the way that they make these ingredients is through a very similar kind of fermentation process that we’ve now developed to make food ingredients.”
Per the company’s website, Perfect Day Inc., was founded in 2014 by Ryan Pandya and Perumal Gandhi. In its latest round in September, the company raised $350 million at the valuation of nearly $1.5 billion. The startup is the manufacturer of animal-free dairy proteins and counts actor Leonardo DiCaprio as one of its advisors.
Last updated: December 26th, 2025
