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US natural food brand Purely Elizabeth has closed a $50 million Series B financing round, which was backed by the newly launched food and nutrition division of Seminal Capital (SEMCAP). Purely Elizabeth offers “nutrient-dense” breakfast foods that incorporate ingredients such as organic ancient grains, probiotics and MCT oil. The Series B round was co-led by SEMCAP’s brand-new food and nutrition division, and joined by co-investors Swander Pace Capital and SEMCAP partner Fresh Del Monte. Purely Elizabeth’s portfolio currently includes pancake and waffle mix, granola and oatmeal, and the company says that it plans to introduce new products as well as launch into a new category. Purely Elizabeth will use the new funds to invest in marketing and product innovation, and to support its growth in the ecommerce channel. “Since 2016, SEMCAP’s John Haugen and Ryan Newcom have served on my board and played an instrumental role in helping scale the business,” said Elizabeth Stein, Purely Elizabeth founder and CEO. “We share the same vision and values for the brand, which were our most important aspects when choosing an investment partner. We are beyond lucky.” John Haugen, managing partner at SEMCAP’s food and nutrition division, said: “Purely Elizabeth is catalysing change in the food and nutrition space and changing the way food is made through its commitment to clean, sustainable ingredients that are packed with nutrition, while simultaneously delivering great taste”. He continued: “We are thrilled to continue building on an amazing relationship that has existed for over five years”.