LOS ANGELES — Plant-based beverage maker Califia Farms has completed a series D round of financing that has generated $225 million. The investment group was led by the Qatar Investment Authority and included other investors from Temasek, Claridge, Green Monday Ventures and a Latin American family with interests in coffee and consumer products.
The new investor group will take a minority stake in Califia Farms, with representatives from the Qatar Investment Authority, Temasek, and Claridge joining the board of Califia, alongside founder and chief executive officer Greg Steltenpohl and existing investors Sun Pacific, Stripes and Ambrosia.
The latest funding round will help Califia Farms build on the success of its oat platform and launch other lines, according to the company. Proceeds also will allow management to further invest in increased production capacity, substantial R.&D., deeper U.S. penetration, and continued global expansion.
“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,” Mr. Steltenpohl said. “Each of our partners brings significant resources and global expertise to accelerate our next stage of our growth."
Founded in 2010, Califia Farms is a manufacturer of plant-based milks, dairy-free creamers and ready-to-drink coffee. The company recently launched oat milks, a dairy-free probiotic yogurt and a cold-brew coffee.