Plant-based milk substitute market gets frothy with $225 million for Califia Farms
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 Qatar Investment Authority, Singapore’s sovereign wealth fund, Temasek, Canada’ Claridge, and Hong Kong-based Green Monday Ventures (among others). For Temasek, the deal…
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