Magic Spoon is a technology company.
Magic Spoon has raised $116.0M across 2 funding rounds.
Magic Spoon has raised $116.0M in total across 2 funding rounds.
Magic Spoon is a food company, not a technology company, specializing in high-protein, low-sugar, grain-free cereals that mimic nostalgic childhood flavors for health-conscious adults.[1][2][6] It serves consumers seeking keto-friendly, nutritious breakfast alternatives to traditional sugary cereals, solving the problem of post-breakfast energy crashes with clinically-backed, protein-packed products sold initially direct-to-consumer (DTC) online and now in over 7,000 retail locations like Target and Sprouts.[1][3][4] Founded in 2019, Magic Spoon has raised $123.72M in funding (latest $21M Series B-II two years ago), achieved $50M-$100M revenue, and grown to 1 million customers with a $100M valuation by scaling from DTC to omnichannel retail.[2][4][5]
Magic Spoon was founded in 2019 by longtime friends Gabi Lewis and Greg Sewitz, who met in college, lived together, and previously started a business together—earning them the nickname "cereal entrepreneurs."[1][4][6] Growing up on sugary morning cereals that led to afternoon crashes, they spent over a year experimenting to create grain-free, high-protein versions inspired by Saturday-morning cartoon favorites, tailored for modern, health-focused adults.[1][6] The idea emerged from their shared frustration with unhealthy breakfast options; they launched DTC via Shopify in April 2019, selling out within six weeks and confirming early traction: "On the first day, we knew we were onto something pretty huge," says Gabi.[1][3]
Magic Spoon rides the wave of health-conscious consumer trends—nostalgia marketing fused with keto/low-carb demands—disrupting the $20B+ U.S. cereal market dominated by sugary giants.[3][5] Timing aligns with post-pandemic DTC booms and retail reopenings, amplified by e-commerce tools like Shopify and advanced 3PL tech (e.g., DCL's eFactory for real-time inventory), enabling quick pivots from online-only to 1,000+ stores.[3][4] Market forces like rising protein/snack demand and sugar reduction innovations favor it, while its data-driven retailer insights influence ecosystem shifts toward healthier CPG brands.[3][5] Though not tech-native, its tech stack (ERP, logistics platforms) exemplifies how food startups use software for operational edge in competitive grocery channels.[3][4]
Magic Spoon's momentum—$123M funded, retail ubiquity, and tech-enabled scaling—positions it for deeper grocery penetration and product extensions like bars.[2][4][5] Trends like sustained keto/popularity of functional foods and AI-driven personalization will shape growth, potentially pushing toward $200M+ revenue via international expansion or acquisitions. Its influence may evolve from DTC disruptor to category leader, redefining "cereal" for adults and inspiring more nostalgia-health hybrids—proving Gabi and Greg's vision was no flake.
Magic Spoon has raised $116.0M in total across 2 funding rounds.
Magic Spoon's investors include 8VC, FabFitFun, Not Boring Capital, O'Shaughnessy Ventures, Positive Sum VC, QueensBridge Venture Partners, RSE Ventures, The Family Fund, True Ventures, Ahmir Khalib Thompson, Anjula Acharia Bath, Chris Hollod.
Magic Spoon has raised $116.0M across 2 funding rounds. Most recently, it raised $110.0M Series B in June 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2022 | $110.0M Series B | 8VC, FabFitFun, Not Boring Capital, O'Shaughnessy Ventures, Positive Sum VC, QueensBridge Venture Partners, RSE Ventures, The Family Fund, True Ventures, Ahmir Khalib Thompson, Anjula Acharia Bath, Chris Hollod, Edward Norton, Lionel Richie, Nick Green, Nick Jonas, Odell Beckham Jr., Paul George, Venus Williams | |
| Sep 1, 2019 | $6.0M Seed | Accel, Amberstone Ventures, Diaspora Ventures, FabFitFun, Index Ventures, Lead Edge Capital, Matrix, Point Nine Capital, Storm Ventures, Thomas Pentz, True Ventures, Unusual Ventures, Y Combinator, Anshu Sharma, Jean-Sébastien Wallez, Jen Rubio Butterfield, Michel Meyer, Moisey Uretsky, Scott Tannen, Thibaud Elziere, Whitney Cummings |