Rich Products, a leading US food and beverage group, has invested in Doughlicious as part of a $5 million funding round for the UK cookie-dough producer.
Doughlicious announced that this investment, spearheaded by Rich Products Ventures, its in-house VC arm, represents a “pivotal moment.” This funding will significantly “accelerate its expansion across the US and international markets.”
In an exclusive statement, Doughlicious confirmed that these funds will facilitate the establishment of production facilities in the US. Currently, all products are manufactured at the company’s facility in London.
The funding round also attracted participation from The Angel Group and several existing investors.
Doughlicious underscored that Rich Products Ventures offers “deep category expertise and global distribution support.” Additionally, The Angel Group will provide access to “strategic counsel and influential networks.”
Kathryn Bricken, the founder and CEO of Doughlicious, stated: “We are poised to grow faster, innovate smarter, and bring our crave-worthy creations to more consumers around the world.”
Founded in 2017, Doughlicious focuses on cookie dough products, marketing what it claims to be a healthier version of this beloved treat.
The company’s product range also includes “bites” made from cookie dough and dairy-free gelato.
Doughlicious’s offerings are currently available in the US, UK, continental Europe, and the Middle East.
In the US, the company has secured distribution deals with major retailers, including Target, Whole Foods, and Wegmans.
Dinsh Guzdar, managing partner of Rich Products Ventures, remarked: “We are excited to help Doughlicious expand its footprint throughout the US and shake up the freezer section with a new concept in permissible indulgence.”
Rich Products operates across various categories, including pizzas, icing, sweet starters, drinks, desserts, and bakery items.
Through its VC arm, the privately-owned business has also invested in companies such as Haofood, a China-based alternative-chicken manufacturer, and BlueNalu, a US cell-based seafood business.
