General Mills has again backed Good Culture, a fledgling US dairy company it first financed through investment arm 301 Inc. in 2016.
California-based Good Culture said yesterday (26 February) it has closed a funding round worth US$8m.
Go deeper with GlobalData
The round was led by existing shareholder US fund CAVU Venture Partners. It also included “significant investment” from 301 Inc., General Mills’ in-house investment unit, and Almanac Insights, an early-stage investment firm founded by David Barber, co-owner of US farm and restaurant business Blue Hill.
“We have found incredible partners in CAVU, 301 Inc. and Almanac, and this round is a testament that the better dairy, and more broadly, the real food space is one with exponential potential,” Jesse Merrill, Good Culture’s CEO and co-founder, said.
Merrill set up Good Culture with Anders Eisner in 2015. Good Culture says “since its inception” it has seen “over 500% growth”, without providing specific figures. Its products are sold nationally in the US in more than 11,000 stores.
Good Culture is one of a number of investments made by 301 Inc. since General Mills switched the unit’s focus from developing products in-house to backing emerging food brands.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDatajust-food’s guide: Big Food’s stake in the future – in-house venture-capital funds
