[2 July/Food Navigator]

Calfia Farms, a plant-based beverage brand, raised USD50 million in a new funding round which was led by Ambrosia Investments. According to Ambrosia investments Chairman, Serge Schoen, the funding would be used to expand its manufacturing facility and further develop go to market capabilities for commercialising recent launches in plant based milks, non-dairy creamers, cold brew coffees and probiotic dairy free yoghurt drinks. The company appointed former Goldman Sachs executive, Sandeep Patel, as Chief Financial Officer according to CEO, Greg Steltenpohl.