INSUBCONTINENT EXCLUSIVE:
The market for companies developing dairy substitutes is really getting frothy.In December, the startup Perfect Day Foods announced it had
raised $110 million in financing for its dairy replacement and now Califia Farms, the producer of a range of oat and almond milk products
(along with a slew of coffees, juices and non-dairy snacks) has raised $225 million in fresh financing.Investors in the round include the
others).For Temasek, the deal comes on the heels of an incredibly successful investment in Beyond Meat, the plant-based meat substitute that
of the most successful IPOs of the last year.Money from the new investor base, which joins previous investors Sun Pacific, Stripes and
Ambrosia in backing the company, will be used to expand its oat-based suite of products and to launch other new product lines
The company said it also will use the money to increase its production capacity, research and development efforts, and geographical
genetically modified organisms to produce the proteins and sugars that make dairy what it is.Other companies like Perfect Day, Ripple Foods
ready-to-drink coffee industry is ripe for continued disruption with individuals all over the world seeking to transform their health -
Steltenpohl, Califia founder and chief executive, in a statement.Barclays served as the financial advisor and placement agent for Califia on
