London-based Spacegoods munches on €2.9 million to become Europe’s leading functional mushroom brand
Summary
The investment will enable Spacegoods to solidify its position as the leading mushroom-based wellness brand in Europe through market expansion, team growth, and the development of new products. Launched in April 2022 by seasoned e-commerce entrepreneur Matthew Kelly, Spacegoods embraces the power of functional mushrooms and adaptogens to help with focus, energy and overall wellness. We want to help more people to feel their best through the benefits of functional mushrooms.” Kelly continued: “The functional mushroom space is relatively untapped in Europe – with this investment and the support of our investors, Spacegoods has a huge opportunity to be the European market leader.” The adaptogenic mushroom market, valued at approximately $10.9 billion in 2022, is expected to grow 10 percent annually, reaching a projected value of $30 billion by 2032. The company operates at the crossroads of three trendy markets: supplements, functional drinks and coffee replacements, all in which high growth is expected in the coming years due to increased consumer demand for clean energy and broader wellness”. Spacegoods offers well-researched and innovative wellness products that help customers manage stress and anxiety and enhance general well-being.