Ever miss your childhood cereal flavors but prevent yourself from eating them because of various nutritional factors? Well, a New York City start-up cereal brand named Magic Spoon is planning to shake up the cereal space by making your favorite flavors healthy too. They received $5.5 million in a funding round led by Lightspeed Venture Partners to expand their business, grow their team, and create new flavors.
Magic Spoon offers four nostalgic flavors which include; frosted, cinnamon, fruity and cocoa. Those flavors are similar to the famous cereal brands, Frosted Flakes, Cinnamon Toast Crunch, Fruit Loops and Cocoa Puffs.
Gabi Lewis and Greg Sewitz are the founders of Magic Spoon cereal. They have been long-life friends that enjoy their bowls of cereal in the morning. In a statement for Magic Spoon they said, “We experimented for over a year to create a cereal inspired by the flavors and nostalgia of Saturday-morning-cartoon cereal but upgraded for a 21st century consumer. A guilt-free treat that tastes like you remember and you can eat at any time of day.”
In addition to the variety of familiar flavors, Magic Spoon cereals boast high protein, low carbohydrates and a sweet flavor.
With the $5.5 million in funding, the company received ample interest and backing from other founders in the direct-to-consumer space. This new venture capital has opened opportunities to scale cereal sales and grow their subscriptions. The start-up plans on keeping the e-commerce platform as their source of delivery for now.
Sewitz told the Observer, “Right now, Magic Spoon is continuing to focus on the direct-to-consumer model, as it allows us to have an intimate, one-on-one relationship with our consumers and be nimble in our approach to product development…Eventually, we see Magic Spoon in all places where cereal is sold, which includes brick and mortar retail.”