Frozen cookie dough brand Doughlicious has completed a $5m funding round to back its continued expansion across the US.
The round was led by Rich Products Ventures, the venture capital fund of family-owned US food group Rich Products, and private investor collective The Angel Group, along with backing from existing investors.
London-headquartered Doughlicious already has distribution in major US retailers such as Target, Whole Foods Market and Wegmans after the business secured £3.5m in investment last year to expand in the country.
Founded by Kathryn Bricken in 2017, the business sells frozen gelato bites wrapped in cookie dough and dusted in cookie crumbs in more than 10,000 retail stores across the UK, US, Europe and the Middle East. Its gluten-free products are made at its London factory using no added refined sugars or white bleached flour and contain no artificial additives or preservatives.
“This partnership with Rich’s and The Angel Group is more than an investment, it’s a vote of confidence in the future of Doughlicious and our mission to redefine indulgence,” said Bricken.
“With their support, we’re poised to grow faster, innovate smarter and bring our crave-worthy creations to more consumers around the world.”
Rich Products Corporation, also known as Rich’s, generates annual turnover of more than $5.8bn and supplies products ranging from cakes and icings to pizza, appetisers and specialty toppings.
Dinsh Guzdar, managing partner of Rich Products Ventures, added: “Innovation is at the core of both Rich’s and RPV, and we believe in the bold ideas that are shaping the future of food.
“Doughlicious is a great example of a brand that is delivering on what today’s consumers want: smaller portions and clean-label offerings that don’t sacrifice on taste. We’re excited to help Doughlicious expand its footprint throughout the US and shake up the freezer section with a new concept in permissible indulgence.”
Earlier this year, Doughlicious expanded into ambient food to go with a range of soft-baked single-serve cookies.
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