Dairy alternative supplier and cold brew retailer Califia Farms has completed a US$225 million Series D financing led by the Qatar Investment Authority (QIA).
Other investors in the financing include Singaporean investment company Temasek, Canada-based Claridge, Hong Kong’s Green Monday Ventures, and a Latin America based family with significant interests in coffee and consumer products.
Califia Farms calls the financing deal one of the largest private capital raisings within the natural foods sector to date.
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.
Califia Farms says demand for plant-based beverages is exploding worldwide as consumers seek healthier, great-tasting dairy alternatives. This latest funding round will help the company build on the success of its oat platform and launch other lines. Proceeds will also allow Califia to further invest in increased production capacity, substantial research and development, deeper United States penetration, and continued global expansion.
Califia is looking forward to working with a more global investor base, as the company continues to grow and fulfill its mission.
“The more than $1 trillion global dairy and ready-to-drink coffee industry is ripe for continued disruption, with individuals all over the world seeking to transform their health and wellness through the adoption of minimally processed and nutrient rich foods that are better for both the planet and the animals,” says Greg Steltenpohl, Califia’s Founder and CEO. “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.”