General Mills' venture fund leads $18M round for plant-based food maker Kite Hill

General Mills' venture fund leads $18M round for plant-based food maker Kite Hill

301 INC adds Kite Hill to its investment portfolio, which also includes natural brands Good Culture, Rhythm Superfoods and Tio Gazpacho.

Kite Hill, the pioneering Northern California-based company that first gained notice for its ground-breaking line of artisanal nut milk cheeses and yogurts, today announced that it closed an $18 million fundraising round with lead investment from 301 INC, General Mills’ new business development and venturing unit, and CAVU Venture Partners, a leading consumer growth equity firm. The company intends to use the proceeds from the funding round to expand distribution and increase consumer awareness for the Kite Hill brand and product lines.

“These investments provide additional confirmation that Kite Hill has quickly established itself as the gold standard in great tasting plant-based dairy,” said Matthew Sade, Kite Hill CEO. “Our products—from cheese to yogurt to entrées—are quickly becoming the bridge for consumers who want access to better-for-you products without having to trade off great taste. We are excited to partner with General Mills and CAVU to grow our business, innovate new products and reach the ever-growing number of consumers who are incorporating plant-based foods into their diets.”

By marrying natural ingredients and patented biochemistry with traditional cheese- and dairy-making techniques, Kite Hill is able to offer delicious almond milk alternatives to traditional dairy products. Kite Hill sources the highest-quality, non-GMO almonds sourced locally from California’s San Joaquin Valley to make its proprietary almond milk fresh daily. The almond milk then becomes a base for a wide range of products marketed under the Kite Hill brand.

“We’re thrilled to partner with Kite Hill to help them expand their remarkable portfolio of plant-based dairy foods,” said John Haugen, vice president and General Manager of 301 INC. “What sets Kite Hill apart is its ability to innovate and crack the code on developing great-tasting products that appeal to consumers seeking dairy alternatives.”

“The science behind the products, amazing taste and better for you nutritional profile are incredibly compelling. We look forward to helping Matthew and his team make Kite Hill a household name for consumers seeking a healthier alternative to dairy,” said Clayton Christopher, co-founder and General Partner at CAVU Ventures.

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