Rhythm Superfoods, an Austin, Texas-based company known for creating organic and non-GMO plant-based snacks, has closed a $6 million Series D financing round with a lead investment from 301 INC, the business development and venturing unit of General Mills. Additional investors include Blueberry Ventures and the CircleUp Growth Fund.
This is the second round of funding Rhythm Superfoods has received from both 301 INC and the CircleUp Growth Fund since the start of 2016. During that time Rhythm Superfoods has expanded distribution into new markets and channels, added a line of dehydrated Beet Chips to its plant-based, nutrient-dense snacks and grew to become the leading brand of kale chips in the market.
“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.”
The additional funding will enable the brand to continue their growth, expand capacity, support sales and marketing initiatives, as well as help drive innovation through new product development, all while positioning Rhythm Superfoods as the leader in the plant-based snack space.