Magic Spoon Raising $121m 🥣

2023 is going to be a big year for the cereal company.

Good morning hope you had a nice weekend.

• Magic Spoon (a cereal startup) is raising $121,709,284.00 in new funding. I saw this tweet right before the weekend, and was excited to write about it this morning. Earlier this year, the cereal maker raised $85M (led by HighPost Capital) as it pivoted from purely DTC to landing a spot on Target shelves. In that linked TechCrunch article, the founders declined to share hard numbers to support the company’s growth, but did say that Magic Spoon’s products have reached more than 1 million customers in the past three years. I will say that they nailed Instagram and Facebook ads over the pandemic, and have even be used as a case study on Meta’s business marketing blog. The celebrity cap table includes The Chainsmokers (sick), Amy Schumer, and Russell Westbrook. The cereal is $39 for 4 boxes. Straight up, this is a flex and their performance and growth must be excellent to get such a big deal done.