NEW YORK — Gourmet cookie chain Chip City Cookies announced the close of a $7.5 million Series B investment from Enlightened Hospitality Investments (EHI), bringing the total raised by the investment firm to $17.5 million.
“It’s been thrilling to watch Chip City’s momentum take hold in markets across the country,” said Danny Meyer, co-founder and managing partner of EHI. “The Series B capital not only validates the quality of the product — which is delicious — but also illustrates the team’s ability to accelerate retail growth, execute creatively, retain customers and, ultimately, secure a prime position in the cookie space.”
The funds will support Chip City’s brick-and-mortar growth throughout the US.
“This Series B fundraise helps Chip City sustain and further our strong commitment to developing exceptional cookies, providing enjoyable experiences for our guests and team members, and to continuously invest in the next stage of our transformative journey,” said Peter Phillips, CEO and co-founder of Chip City. “We’re excited about our growth trajectory and this investment from EHI propels us into a new era of growth and innovation.”
Since the brand’s start in 2017, Chip City has opened 38 locations in eight states. The company is set to expand into other markets, including Pennsylvania, by the close of 2024.
