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The firm's unofficial mascot "Mr. Stone" holding Oatly. Source: The Blackstone Group holiday video.

Oatly, a Swedish oat milk company, raised $200 million in growth equity funding led by The Blackstone Group at around a $2 billion valuation.

Why it matters: Alt-milk predated alt-meat, and now seems poised to follow it into the public markets.

  • Other investors include Howard Schultz, Oprah Winfrey, Roc Nation, Natalie Portman, Orkila Capital, and Rabo Corporate Investments.

Flashback: Califia Farms, a Los Angeles-based almond and oat milk producer, raised $225 million earlier this year led by Qatar Investment Authority.

The bottom line: "Founded in the 1990s, Oatly entered the U.S. four years ago. The company’s 2019 sales of about $200 million were roughly double the previous year. It expects to have similar growth this year, according to people familiar with the matter. Oatly has been profitable in the past but lost money in recent years as it invested in its business." — The Wall Street Journal

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Ipsos poll: COVID trick-or-treat.
  2. World: Greece tightens coronavirus restrictions as Europe cases spike.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: Fully at-home rapid COVID test to move forward.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."

Trump's legacy is shaped by his narrow interests

Illustration: Annelise Capossela/Axios

President Trump's policy legacy is as much defined by what he's ignored as by what he's involved himself in.

The big picture: Over the past four years, Trump has interested himself in only a slim slice of the government he leads. Outside of trade, immigration, a personal war against the "Deep State" and the hot foreign policy issue of the moment, Trump has left many of his Cabinet secretaries to work without interruption, let alone direction.

Bryan Walsh, author of Future
4 hours ago - Technology

AI and automation are creating a hybrid workforce

Illustration: Annelise Capossela/Axios

AI and automation are receiving a boost during the coronavirus pandemic that in the short term is creating a new hybrid workforce rather than destroying jobs outright.

The big picture: While the forces of automation and AI will eliminate some jobs and create some new ones, the vast majority will remain but be dramatically changed. The challenge for employers will be ensuring workforces are ready for the effects of technology.