In Great Company: 301 INC Invests $3M in Purely Elizabeth
General Mills’ 301 INC announced that the fund has landed its eighth partnership with Purely Elizabeth, an already successful food startup. The venture fund has invested $3 million into the granola and cereal company, and the partners are excited to take the brand to a new level within the industry.
General Mills' well-known cereal roster and Purely Elizabeth’s breakfast mainstays take up space in the same grocery aisles, and the two companies could be seen as competitors. 301 INC uses this to an advantage and understands that consumer needs vary across the board. The capital arm is eager to remain involved in the better-for-you category with the investment and expand the brand beyond its original product offering. Rhythm Superfoods, Farmhouse Culture, and Tio Gazpacho are just a few of the existing partnerships that 301 INC has invested in, so the new relationship with Purely Elizabeth continues to add to General Mills' strategy to shake up the startup world with enlisting attractive disruptor brands to its portfolio.
301 INC’s investment in Purely Elizabeth puts the brand in a great place for advancement. Read more about the partnership at Fortune.