Califia Farms, a plant-based food and beverage company known for dairy alternatives and ready-to-drink coffee, has raised $225 million in financing, which the company said was one of the largest private capital raisings within the natural foods sector.
The Series D financing includes several investors: Qatar Investment Authority (QIA), Temasek, Claridge, Green Monday Ventures and a Latin American-based family with interests in coffee and consumer products.
The investor group will claim a minority stake in Los Angeles-based Califia Farms, and representatives from QIA, Temasek and Claridge will join Califia Farms founder Greg Steltenpohl and current investors Sun Pacific, Stripes and Ambrosia on the company’s board.
Califia Farms, founded in 2010, will use the funds to expand its oat dairy-alternative platform and launch other lines, as well as increase production capacity, invest more in research and development and continue expansion within the U.S. and the world.
“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,” Steltenpohl said. “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.”