A $7.5 million Series B fundraising round was secured by Chip City Cookies, a gourmet cookie brand located in New York City.
Investor
- Enlightened Hospitality Investments
Use of funds
In order to further solidify its brand position in the cutthroat cookie market, the firm plans to utilize the money to spend in hiring more staff, providing more services, and forming innovative partnerships in addition to expanding its physical and mortar outlets across the US.
About Chip City
Chip City was established in July 2017 by Peter Phillips and Teddy Gailas. As of right now, the company has over 35 sites in eight states, with hopes to expand into additional areas by 2024. The firm now has 38 sites in the states of New York, New Jersey, Connecticut, Florida, Illinois, Maryland, Massachusetts, and Virginia. Before the year is up, it hopes to expand into Pennsylvania and other new areas. Goldbelly handles national shipping for the company.
