Vegan Brand Califia Farms Raises $50 Million
The plant-based brand will use the capital injection to expand the production capacity of its vegan cold-brew coffee beverages, yogurts, creamers, and milks.
July 4, 2018
California-based vegan brand Califia Farms recently secured a $50-million investment led by financial firm Ambrosia Investments. The company—known for its plant-based milk, coffee beverages, probiotic drinkable yogurts, and creamers—will use the new funding to expand its production capacity and further commercialize its existing product line. “Califia Farms has achieved remarkable growth in the its six years of operation through a disruptive suite of plant-based products,” Ambrosia Investments chairman Serge Schoen told media outlet Foodnavigator-USA. “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.’” In 2016, Whole Foods Market named California Farms its “Top Supplier or the Year,” and top financial firm Goldman Sachs recognized the company’s CEO Greg Steltenpohl as one of its top 100 Most Intriguing Entrepreneurs of 2017.