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Magic Spoon received $85 million in Series B funding to expand into retail stores after the early hype and excitement, despite recent appearance in a clearance bin.

Apr 11, 2024•over 1 year ago

Amount Raised

$85 Million

Round Type

series b

New York

Description

Magic Spoon, a producer of grain-free cereals, received $85 million in Series B funding to expand into various retail stores after a period of hype and excitement. However, recent presence in a clearance bin has raised questions about its market demand and long-term success.

Company Information

Company

Magic Spoon Inc.

Location

285 WEST BROADWAY

New York, United States

About

Magic Spoon offers a wide range of nostalgic flavored cereal, but with better ingredients and zero added sugar. After experimenting for over a year, co-founders, Gabi Lewis and Greg Sewitz were inspired by the nostalgia and tastes of childhood classics and launched Magic Spoon in 2019. All of Magic Spoon’s cereals are high in protein, low in carbs, keto-friendly, and free of gluten, grains, soy, and anything artificial. Sweet and delicious, Magic Spoon is transforming the cereal industry by building a new category of nutritious and flavorful cereal that you can enjoy any time of day. To learn more about Magic Spoon, please visit www.magicspoon.com or follow on Instagram (@magicspooncereal).

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