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General Mills' 301 Inc. invests in ready-to-eat organic food company Urban Remedy

The venture fund, which is invested in Kite Hill, Purely Elizabeth, Rhythm Superfoods and other natural food companies, adds ready-to-eat meals, juices and snacks to its investment portfolio.

Urban Remedy, the pioneering plant-based food company offering an organic, non-GMO and ultra-fresh product roster of ready-to-eat meals, snacks and cold pressed juices, has closed a $17 million series B fundraising round with lead investment from 301 Inc. The company also announces that industry leader John Foraker will be joining the board of directors. The backing from 301 Inc. and partnership with John Foraker help Urban Remedy accelerate its mission to make fresh, clean food more accessible to an increased number of customers.

“We believe the future of food is fresh, clean and convenient,” said Paul Coletta, CEO of Urban Remedy. “We are on a mission to reimagine our industrialized food system and empower consumers to seek unprocessed, nutrient-dense healing food. Two consecutive years of over 100 percent revenue growth indicate that we are on the right path. Scaling a high-quality, fresh food business is very challenging. Our new partnership with 301 Inc. and John Foraker brings significant strategic resources and experience to our effort.”

Urban Remedy was founded in 2009 by licensed acupuncturist Neka Pasquale with the belief that food is healing. Neka continues to utilize the wisdom of Chinese medicine to craft modern-day food by using quality, organic ingredients that naturally lower inflammation and nourish the body.

“We are thrilled to partner with Urban Remedy, a company whose multi-channel go-to-market strategy thrives at delivering fresh, healthy food to consumers,” said John Haugen, vice president and general manager of 301 Inc. “Through retail stores, branded kiosks and direct-to-consumer delivery, Urban Remedy excels at providing convenient access to organic products. We are excited to help Urban Remedy achieve its mission to deliver food that’s healing to people and the planet.”

“I am a big believer in the Urban Remedy product and mission,” said, John Foraker, member of the board of directors of Urban Remedy. “I see Urban Remedy’s food at the helm of bringing consumers fresh, great-tasting meals and snacks that are better for the planet and better for their bodies. I am very excited to be a part of this systemic change in food culture.”

Urban Remedy is available at stores across California and nationally online.

Source: Urban Remedy

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