- General
- July 3, 2018
- 3 minutes read
Beverage startup Califia Farms nabs $50 million in funding to expand its products
image credit : Califia Farms California based beverage startup Califia Farms which is notable for its product lineup which includes…
image credit : Califia Farms
California based beverage startup Califia Farms which is notable for its product lineup which includes Almond Milk, Coffee, Creamers, Juices and other natural beverage products has now raised a $50 million venture funding round from a trio consisting of Luxembourg based investor Ambrosia Investments and also fruit company Sun Pacific along with Stripes Group who are notably returning investors having participated in the company’s previous funding rounds.
Califia Farms now plans to use this investment to boost its manufacturing capacity focused at the company’s current manufacturing site located in Bakersfield, California which will see the company expand its production rate to offer much more of its products to its customers.
This investment brings the total raised by 8 year old Califia Farms to a huge $115 million raised in 3 separate venture rounds.
Califia is also notable for various celebrities consisting of a team Jared Leto, Karlie Kloss, Leonardo DiCaprio, and Shaun White Join who are joining the company’s shareholder list through a partnership in this investment round.
Califia is also making use of this huge funding to “develop its go-to-market capabilities for commercializing recent innovations in Plant-Based Milks, Non-Dairy Creamers and Cold Brew Coffees” whilst also promoting its products through various commercialization deals which include an already agreed sponsorhip of sponsorship of Jared Leto’s 30 Seconds to Mars’ Monolith Tour which comes up this summer.
Along with this move, The company is notably adding former Barclays and Goldman Sachs Managing Director Sandeep Patel who will be hemming the position of Chief Financial Officer for the company in a bid to lead the several aspects of the company’s financial organization.
This investment adds to the list of several startups which have popped up to merge innovation with the Beverage industry in the offering of better and more desirable products to its customers.
Califia Farms was started in 2010 by Greg Steltenpohl and a team of others who have led the company’s growth since its start to a very good position right now.
