Originally published on Just Food
US better-for-you frozen fruit bar firm Modern Pop has secured a new round of investment from three venture capital firms.
The California-based business has received backing – of an undisclosed amount – from Cambridge Companies SPG, Rocana Venture Partners and Steelpoint Capital.
It is using the investment money to add new flavours to its range and to expand distribution to around 3,000 placements nationwide.
Modern Pop prides itself on offering a product with the more whole fruit and less sugar than an apple. It has won listings with major retailers including Kroger, Safeway, Whole Foods Market and Wegmans.
Brad Podolec, Modern Pop’s co-founder, said: “We’re very excited to be executing upon our vision of creating and commercialising a product that bridges the gap between health and indulgence in the frozen category, and thrilled to be partnered with the amazing funds backing Modern Pop.”
Filipp Chebotarev, chief operating officer and partner at Cambridge Companies SPG, said: “We are proud to support Modern Pop as the brand navigates new growth opportunities in 2018.
“The company is invigorating the frozen fruit bar space with real ingredients and exceptional flavours and we at Cambridge Companies SPG are thrilled to be a part of Modern Pop’s next chapter as they continue to develop and expand.”
The idea for Modern Pop originated from founders Julie and Brad Podolec failing to find a frozen fruit bar they felt comfortable giving their teething infant.
The Giannuzzi Group acted as legal counsel to Modern Pop.