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Plant-Based Milk Giant Califia Farms Completes Landmark 225 Million Financing

LOS ANGELES -- Califia Farms, a leading plant-based food and beverage company, has completed a $225 million Series D financing led by the Qatar Investment Authority (QIA). 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 represent...

January 19, 2020 by Emily Jed

LOS ANGELES -- Califia Farms, a leading plant-based food and beverage company, has completed a $225 million Series D financing led by the Qatar Investment Authority (QIA).  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 board of Califia, alongside founder Greg Steltenpohl and existing investors Sun Pacific, Stripes and Ambrosia.

Demand for plant-based beverages is exploding worldwide as consumers seek healthier dairy alternatives. This latest funding round will help Califia Farms build on the success of its oat platform and launch other lines, according to officials. Proceeds will also allow Califia to further invest in increased production capacity, substantial R&D, deeper U.S. penetration, and continued global expansion.

Inspired by the legendary Queen Califia, namesake of the state of California, Califia Farms was founded in 2010 and has 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," said Califia founder and chief executive Greg Steltenpohl. "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."