Los Angeles, CA—Califia Farms has completed “one of the largest private capital raisings within the natural foods sector,” according to a press release, through a $225 million Series D financing led by the Qatar Investment Authority (QIA). Other investors in the financing include Singapore-based 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 investors will take a minority stake in Califia Farms. Representatives from QIA, Temasek, and Claridge will join the board, alongside Founder and CEO Greg Steltenpohl and existing investors Sun Pacific, Stripes, and Ambrosia.
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This funding round will help Califia Farms build on the success of its oat platform and launch other lines, the release says. Proceeds will also allow Califia to invest in increased production capacity, R&D, deeper U.S. penetration, and continued global expansion.
Steltenpohl said in the release: “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 & 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.”
He also thanked the new investors: “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 ot accelerate the next stage of our growth.”