General Mills doubles down on Rhythm Superfoods investment

by Monica Watrous
Share This:
Search for similar articles by keyword: [General Mills]

Rhythm Superfoods
Rhythm Superfoods makes plant-based, nutrient-dense snacks.

AUSTIN, TEXAS — Rhythm Superfoods, a maker of plant-based, nutrient-dense snacks, has closed a $6 million Series D financing round led by 301 INC, the business development and venturing unit of General Mills, Inc., with additional investment from Blueberry Ventures and the CircleUp Growth Fund.

Founded in 2009, Rhythm Superfoods offers such products as Kale Chips, Roasted Kale, Broccoli Bites and, most recently, Beet Chips. The Austin-based company received funding from 301 INC and CircleUp at the beginning of last year and has since expanded distribution into new markets and channels and introduced new products.

Scott Jensen, Rhythym Superfoods
Scott Jensen, c.e.o. of Rhythm Superfoods

“We are elated with our new investment from 301 INC and look forward to continuing this strategic partnership and seeing what we can accomplish for the brand together,” said Scott Jensen, chief executive officer of Rhythm Superfoods. “With the expanded support and resources of General Mills behind us we have confidence that we will continue to be the leader in developing innovative plant-based superfood snacks for our growing consumer base.”

The additional funding will help the company continue its growth, expand capacity, support sales and marketing initiatives as well as new product development.

John Haugen, 301 Inc., General Mills
John Haugen, vice-president and general manager of 301 INC.

“Rhythm Superfoods is the first company that 301 INC partnered with after launching our strategy in late 2015,” said John Haugen, vice-president and general manager of 301 INC. “Rhythm Superfoods continues to be an innovative company in the better-for-you snack category. Scott and his team have accomplished so much in the year that we’ve been working with them, and we’re excited to continue to help them amplify their existing efforts and differentiate their place in the market as a leader in the plant-based snack category.”

Other 301 INC investments include Kite Hill, Good Culture, Tio Gazpacho and Beyond Meat.

CircleUp has invested in Rhythm Superfoods twice before, said Ryan Caldbeck, c.e.o. and cofounder of CircleUp.

Ryan Caldbeck, CircleUp
Ryan Caldbeck, c.e.o. and cofounder of CircleUp
“It's been incredible to see the company establish itself as a clear market leader in better-for-you, healthy snacks with its superior products and authentic brand,” Mr. Caldbeck said. 
Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.