Califia Farms secures $50+ million in funding
Califia Farms, best known for its innovative plant-based beverages, has closed another round of funding that brought in more than $50 million.
Califia Farms, best known for its innovative plant-based beverages, has closed another round of funding that brought in more than $50 million. This round of investment has been led by Ambrosia Investments and existing investors, Sun Pacific and Stripes Group.
“This round of funding will allow us to further pursue our vision to be the leading plant-powered food and beverage company of the future by investing in our four brand pillars of sustainability, health and wellness, plant-based innovation, and engaging consumer experiences,” said Greg Steltenpohl, CEO and co-founder of Califia Farms.
Califia will be expanding its company-owned manufacturing capacity in Bakersfield, Calif. and further develop its go-to-market capabilities for commercializing recent innovations in plant-based milks, non-dairy creamers, and cold brew coffees, as well as promoting the launch of its new line of probiotic dairy-free yogurt drinks.
To support Califia’s strategic long-term growth, Sandeep Patel has been appointed as chief financial officer. Patel joins Califia after 20 years in investment banking, where as a managing director at both Barclays and Goldman Sachs, he advised a broad range of corporate clients on important strategic and financing matters across the food and beverage, agriculture, and technology landscapes globally. As chief financial officer, Patel will lead the company’s finance organization as well as certain operational, legal, technological, and strategic areas.