Kellogg's and General Mills bet big on the plant protein space

March 5, 2019 | Case Study

Consumer packaged goods (CPG) companies in the food sector like Kellogg's and General Mills have expressed their intent to add more plant protein-based products to their portfolios, as they view this space as one of the key growth areas. To accomplish this, the corporate venture arms of these companies have actively invested in plant protein startups. For instance, Kellogg's venture arm Eighteen94 Capital (1894) recently co-led a Series B funding round in Kuli Kuli, after having participated in a Series A funding round in 2017. Likewise, General Mills' venture arm 301 Inc recently led a $40 million funding round in California-based startup Kite Hill. 301 Inc was also involved in Kite Hill's 2016 funding round.