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Pots & Co has announced that General Mills’ venture capital arm is leading a multistage investment of up to £15 million ($20 million) into its business.

Based in London, in the UK, Pots & Co produces a range of potted puddings, as well as new mezze-style dips.

The company, which currently makes 16 million handmade puddings per year, is said to have generated sales of £14 million in 2020.

According to Pots & Co, the 301 Inc-led investment supports its growth strategy to expand its product range and distribution in the US.

In addition to the funding, the company has also announced that it has secured increased US retail distribution across the West Coast and Rocky Mountain region.

All products distributed in the US are currently made in Pots & Co’s London-based factory. The company says that the new funds will enable it to explore manufacturing capabilities in the US, as well as to invest further in marketing and distribution.

Julian Dyer, founder of Pots & Co, said: “We want to create one of the world’s leading food brands and we are thrilled that General Mills has invested in Pots & Co, enabling us to speed up the growth of our business and creating fabulous products for the American consumer.”

John Haugen, founder and managing director of General Mills' venture capital arm, 301 Inc, said: “Our mission is to discover new and emerging food brands with a remarkable offering. Pots & Co fulfils that mission with its focus on natural ingredients to create puddings of restaurant quality.

“As our first overseas investment and first investment in a UK company, we believe Pots & Co will deliver substantial growth with an increasing range of puddings and with its move into savoury products. We’re excited to partner as the brand expands its presence in the US market.”