Spacegoods, a London-based direct-to-consumer e-commerce company specializing in mushrooms and nootropics, has raised £2.5m in a seed funding round.
Space Goods, an initiative led by serial entrepreneur Matthew Kelly, will use the investment to begin a recruitment drive to support market expansion and develop and introduce new products from the company’s product lineup. We plan to do so.
While the effectiveness of mushrooms as an energy, health, and wellness supplement is sometimes considered subjective, the numbers don’t lie. According to Global Markets Insights, the adaptogenic mushroom market was valued at approximately $10.9 billion in 2022 and is projected to grow by 10% annually to reach $30 billion by 2032.
While the US market has produced champions such as MUD/WTR and Dirtea, the European market remains relatively sidelined.
Commenting on the space UK-based Spacegoods holds in the European market, founder Matthew Kelly said:
“Space Goods emerged as a solution to the health and wellness challenges I experienced founding my previous company.
“I explored the benefits of functional mushrooms and natural adaptogens for my own health, and this led to the creation of Space Goods and our first product, Rainbow Dust. An all-in-one blend that provides an energy boost, but without the anxiety, jitters, or crashes.
“We want to help more people feel their best through the benefits of functional mushrooms.”
…and brought European companies to the attention of conscious mushroom drinkers.
Spacegoods, which was founded in late 2021, says its growth to date has primarily relied on direct-to-consumer sales, with strong market positions in the UK and key continental European markets such as the Netherlands and Germany. .
Commenting on the investment, Saskia Hoebeé of Five Seasons Ventures said:
“Spacegoods is pioneering a new category of mushroom-based energy and supplements with a vision to become the category leader in this space.
“The company operates at the intersection of three trending markets: supplements, functional beverages, and coffee substitutes, all of which are driven by growing consumer demand for clean energy and broader health. , we expect high growth in the coming years.”
Lead image via Spacegoods. Photo: Studio G
