AUSTIN, TEXAS — 301 Inc., a business development unit within General Mills, Inc., has taken the investment lead in Rhythm Superfoods, an Austin-based company that makes organic and non-bioengineered innovative plant-based superfood snacks.
Rhythm Superfoods said it has closed a $3 million Series C financing round. In addition to the lead investment from 301 Inc., additional investors include the CircleUp Growth Fund. The financing round was filled exclusively through CircleUp, an investment marketplace for consumer and retail companies, Rhythm Superfoods said.
Founded in 2009, Rhythm Superfoods offers plant-based nutrient-dense snacks, including Rhythm Kale Chips and Broccoli Bites and Roasted Kale. The company’s products retail from $2.49 to $4.99 depending on the product, and are available nationally in retail outlets such as Whole Foods, Sprouts, Kroger, Stop & Shop, Publix, Albertsons, Safeway and Costco.
“Rhythm Superfoods is a remarkable, breakthrough brand with a truly differentiated product offering in the snack category,” said John Haugen, vice-president and general manager of 301 Inc. “We’re thrilled to help them scale their vision and amplify their existing efforts with an investment of not only capital, but the tremendous resources that General Mills can offer. We look forward to helping this exceptional brand reach new heights.”Scott Jensen, chief executive officer of Rhythm Superfoods, added, “We are thrilled with our new investment from 301 Inc. and looking forward to what this strategic partnership will help us accomplish in the months to come. With the 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.”