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.