糖心视频

Celebrity-backed low-carb cereal brand has raised $85 million in a Series B round of funding, the company announced Monday.

Along with the new funding round, which was led by , Magic Spoon will expand from its direct-to-consumer model to make its products available at , according to a statement from the company.

Magic Spoon is looking to disrupt the cereal industry, which is dominated by the likes of and . It makes cereal that tastes like popular childrens鈥� breakfasts鈥攖hink Fruit Loops or Reese鈥檚 Puffs鈥攂ut is more macronutrient-friendly. A bowl of Magic Spoon cereal is low in carbohydrates and high in protein, while available in flavors like peanut butter, cocoa and blueberry muffin.

Magic Spoon background

The company launched in 2019 and has operated with a DTC model so far. But it plans to use the new funding to expand in retail. It will partner with both large and small retailers, the company said.

鈥淥ur focus on a direct-to-consumer model when we launched was key as we were growing and establishing a presence in a tired category, but we are beyond ready and excited to be able to reach even more consumers across the country through our brick-and-mortar retail launch,鈥� Magic Spoon co-founder said in a statement.

In addition to HighPost Capital, , co-founder , and participated in the Series B round. A slew of celebrities also participated in the round, including musical artists , , , and . player , comedian and football player also participated.

Magic Spoon last raised money with a $9 million funding round in November 2020, per Crunchbase data. Other backers include and

Illustration: