Pinkberry Raises $27.5M

Los Angeles-based frozen yogurt chain Pinkberry has raised $27.5M in venture capital funding from Maveron, the venture firm founded by Starbucks founder Howard Schultz. The investment was disclosed by Maveron's Dan Levitan in interviews with the Los Angeles Times and New York Times. No further details of the investment were released. Pinkberry is a retail frozen yogurt chain known for its sour frozen yogurt and pick-your-own toppings. The funding is at least the second venture capital investment in a Los Angeles frozen yogurt chain; Los Angeles-based frozen yogurt company Red Mango also received a round of venture capital in August. More information »