Vegan brand Kite Hill recently closed a $40 million investment round led by 301 Inc.—the venture capital arm of food corporation General Mills. The vegan brand was launched in 2013 by chef Tal Ronen and produces almond-based cheeses, yogurts, and prepared products such as ravioli. “This investment propels Kite Hill into a great position to continue our rapid pace of expansion. We are eager to meet the seemingly insatiable consumer demand for our delicious, chef-inspired, plant-based, vegan foods. As such, we’ll be investing substantially in factory capacity expansion,” Kite Hill CEO Rob Leibowitz said. “We will also continue to innovate in product development and marketing to drive further awareness and adoption of our delicious foods, which never compromise and always deliver extremely well on both taste and texture.” In 2016, General Mills led an $18 million funding round in Kite Hill and currently has a stake in a number of vegan companies, including Beyond Meat, granola brand Purely Elizabeth, and protein bar company No Cow (formerly D’s Naturals).

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