Califia Farms raises $50m+ to expand its plant-based empire
The cash injection will be used to expand its manufacturing facility in Bakersfield, California and further develop go-to-market capabilities for commercializing recent launches in plant-based milks, non-dairy creamers, cold brew coffees, and probiotic dairy-free yogurt drinks, said Serge Schoen, partner and chairman of Ambrosia Investments.
“Califia Farms has achieved remarkable growth in its six years of operation through a disruptive suite of plant-based products. We’re excited about our investment in Califia and are committed to the long-term growth of the company as the brand continues to innovate and introduce products that truly live up to its motto of ‘Something Different, Something Better’.”
The company has also appointed former Barclays and Goldman Sachs executive Sandeep Patel as chief financial officer, said co-founder and CEO Greg Steltenpohl.
“Sandeep has a differentiated understanding of the food and beverage industry from soil to shelf as well as deep expertise helping high-growth companies like Califia develop strong financial frameworks and access to capital compatible with a long-term vision.”