General Mills subsidiary 301 has led a funding round for probiotics product maker NextFoods that will support product innovation and hiring.

NextFoods, the US-based owner of probiotic juice and shot brand GoodBelly Probiotics, has secured $12m in a round led by 301, the strategic investment arm of packaged food producer General Mills.

301, which has partnered NextFoods to develop products since 2016, was joined by existing investors including Emil Capital Partners, the US-based corporate venture capital arm of Germany-headquartered retail group Tengelmann.

Founded in 2007, NextFoods produces probiotic juice drinks, shots, infused beverages, protein shakes, supplements and nutrition bars. It will put the funding into product development and the expansion of its sales team.

The company had previously raised $6m in a 2008 round backed by Sadhu Capital and Steve A. Demos Irrevocable Family Trust before adding $8.2m from unnamed investors in 2013 according to securities filings.

Alan Murray, chief executive of NextFoods, said: “We are excited to partner with 301 to help take GoodBelly Probiotics to the next level.

“This investment is a testament to GoodBelly’s leadership in the category and the continued growth of probiotic food and beverages. With this partnership, we look forward to driving new product innovation as well as expanding our team to reach new consumers.”

– Image courtesy of NextFoods Inc.