LOS ANGELES — Dream Pops, a maker of better-for-you frozen novelties, has raised $6 million in funding from a roster of institutional investors, packaged food entrepreneurs, celebrities and professional athletes. The brand plans to use the proceeds to expand into new product categories, including shelf-stable confections and desserts, next year.
Founded in 2018, Dream Pops manufactures and markets plant-based frozen desserts formulated with coconut milk, coconut sugar, fruits and herbs. Inspired by Colombian paletas, varieties include mixed berry, chocolate with lion’s mane mushroom, vanilla matcha, coconut latte, and mango rosemary. The pops feature a geodesic shape designed to prevent drips and sticky fingers. The company also makes Dream Bites, which are poppable frozen desserts coated in vegan chocolate.
Forthcoming product launches will reimagine “American cult classics” with similar nutrition profiles as the brand’s core offerings, said David Greenfeld, co-founder and chief executive officer of Dream Pops.
“An increasing number of American consumers are craving traditional sweet treats without all the junk, like artificial flavors, corn syrup, and sugar, driving a number of emerging brands to reinvent classic items, such as KitKat and peanut butter cups, with a health and wellness twist,” Mr. Greenfeld said. “Dream Pops is thrilled to be part of this movement to help everyday shoppers eat better without sacrificing on taste.”
Contributors to the funding round included Melitas Ventures, Dan Levitan of Maveron, Will Roush, Michael Chetrit of Chetrit Ventures, Michael Rubin of Fanatics; Cam Newton, Steven Izen of Lokai, Mike Fata of Manitoba Harvest, Jake Kassan of MVMT, Scott Belsky of Behance, Mark Birnbaum of Catch Hospitality Group, Eric Emanuel; Mike Heller and Dave Spencer of Talent Resources, AE Ventures, and Diego Boneta.
“In this round, we were eager to bring together a multi-faceted group of investors, entrepreneurs and institutions that believes in funding a challenger brand that can offer the same indulgent products as confectionery heavyweights, but with 100% plant-based and better-for-you ingredients,” Mr. Greenfeld said.
Dream Pops also will use the new capital to increase manufacturing capacity, introduce new products, scale its direct-to-consumer business and build its team. The products are available in more than 3,500 retail outlets nationwide.“Our 100% plant-based and better-for-you treats are here to stay, and we can’t wait for consumers globally to discover our brand and add them to their daily dessert routine,” Mr. Greenfeld said.