US: General Mills Investment Arm In New Funding Deal

301 Inc. the venture capital unit of General Mills, has announced a new investment in the US food industry.

The unit is investing $3m in Purely Elizabeth, a Colorado-based maker of nutrient-rich breakfast products (granola, oatmeal, muesli, and cereal). Purely Elizabeth products are available in Target stores and several co-operative stores.

301 Inc was the only investor in this funding round, which was Purely Elizabeth’s first such.  This is the eighth food start-up that 301 has invested in since autumn 2015.