Califia Farms, an independently owned plant-based food and beverage company, has completed one of the largest private capital raisings within the natural foods sector, through a $225 million Series D financing led by the Qatar Investment Authority.
This latest funding round will help Los Angeles-based Califia Farms build on the success of its oat platform and launch other lines. Proceeds also will allow Califia to further invest in increased production capacity, substantial research and development, deeper U.S. penetration and continued global expansion.
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 with significant interests in coffee and consumer products.
The new investor group will take a minority stake in Califia Farms, with representatives from QIA, Temasek and Claridge joining the Califia Board of Directors, alongside founder and CEO Greg Steltenpohl and existing investors Sun Pacific, Stripes and Ambrosia.
Demand for plant-based beverages is surging worldwide as consumers seek healthier, better-tasting dairy alternatives.
Inspired by Queen Califia, namesake of the state of California, Califia Farms was founded in 2010. It has since become one of the fastest-growing natural food and beverage companies of scale in the U.S. and select international markets.
“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. Califia’s role is to help plant the future,” Steltenpohl said. “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.”