BOULDER, COLO. — NextFoods Inc., the maker of GoodBelly Probiotics, has raised $12 million in a funding round led by 301 INC, the business development and venturing unit of General Mills, Inc., with additional funding from existing investors, including Emil Capital Partners. GoodBelly said it will use the investment to expand its national sales team, support capital improvements and drive product innovation.
“We are excited to partner with 301 INC to help take GoodBelly Probiotics to the next level,” said Alan Murray, chief executive officer of NextFoods. “This investment is a testament to GoodBelly’s leadership in the category and the continued growth of probiotic food and beverages. With this partnership, we look forward to driving new product innovation as well as expanding our team to reach new consumers.”
Based in Boulder, NextFoods debuted GoodBelly probiotic juices and shots in 2008 and is the leading probiotic juice brand in the marketplace. The funding from 301 INC builds on an existing partnership between General Mills and NextFoods, which teamed up in 2016 to launch GoodBelly Crunchy Probiotic Bars.
“We’re thrilled that GoodBelly is joining the 301 INC investment portfolio,” said John Haugen, vice-president and general manager of 301 INC. “The digestive health space is emerging quickly, and we look forward to helping GoodBelly reach more consumers through its remarkable products and brand.”
Other investments by 301 INC include Rhythm Superfoods, Farmhouse Culture, Purely Elizabeth, No Cow, Good Culture, Kite Hill, Tio Gazpacho, Urban Remedy and Beyond Meat.