USA – Califia Farms, a Los Angeles-based plant-based food and beverage company has closed its Series D financing raising US$225 million in capital led by the Qatar Investment Authority (QIA).
The funding, which counts as one of the largest private capital raisings within the natural foods sector, will support the company’s rapid expansion in the exploding plant-based food and beverage market.
Other investors in the financing include Singapore headquartered investment company Temasek, Canada based Claridge, Hong Kong based Green Monday Ventures, and a Latin America based family.
The new investor group will take a minority stake in Califia Farms, with representatives from QIA, Temasek, and Claridge joining the Board of Califia, alongside founder Greg Steltenpohl and existing investors Sun Pacific, Stripes and Ambrosia.
This latest funding round will help Califia Farms build on the success of its oat platform and launch other lines.
The proceeds will also allow Califia to further invest in increased production capacity, substantial Research & Develpment, deepen its US penetration and continued global expansion.
Founded in 2010, Califia is now looking forward to working with a more global investor base, as the company continues to grow and fulfill its mission of heling consumers transform their health and adopt a lower carbon foodprint.
Greg Steltenpohl, Califia’s Founder and CEO commented, “The more than US$1 trillion global dairy and ready-to-drink coffee industry is ripe for continued disruption.
“Individuals all over the world seeking to transform their health & wellness through the adoption of minimally processed and nutrient rich foods that are better for both the planet and the animals. Califia’s role is to help plant the future.”
“Speed to market is critical for companies at our stage and we are thrilled that our new partners share our vision to be the leading independent brand in the plant-based sector.
“Each of our partners brings significant resources and global expertise to accelerate our next stage of our growth,” he added.
Califia is a leading refrigerated Plant Milk, Dairy Free Creamer and Ready-to-Drink Coffee brand in the Natural and Specialty channels.
The company is also rapidly growing in a range of other channels. Most recently Califia launched a breakthrough line of Probiotic Dairy Free Yogurt drinks and shelf-stable Nitro Draft Lattes with Oatmilk.