Participated · Series B · Jun 2022

Magic Spoon is a New York–based better-for-you cereal maker founded in 2019 by Gabi Lewis and Greg Sewitz. It sells flavored cereals such as Fruity, Cocoa and Peanut Butter formulated with better ingredients, zero added sugar, high protein, low carbs, and gluten-free, keto-friendly positioning. The company began as a direct-to-consumer brand, expanded to Amazon, and has reached more than 1 million customers in the past three years. Three of its eight flavors are launching in about 1,300 Target stores, and its limited-edition cereal bars will become a permanent product this month. Magic Spoon has grown its team to 41 employees from 20 a year ago and lists about a dozen open roles. Management plans to use new capital to support retail expansion, scale logistics and customer service, invest in growth marketing, and broaden the product lineup. Magic Spoon produces a high-protein, no-sugar (low-carb) alternative to classic breakfast cereals. The founders position the product in the middle of the cereal spectrum—healthier than sugary Saturday-morning cereals but more indulgent than many health-focused brands. The company sells four cereal varieties (per its website), with flavors including cocoa and fruity. Customers are eating Magic Spoon for breakfast as well as snacks and dessert. Founders Gabi Lewis and Greg Sewitz previously built and sold Exo Protein, and say lessons from their cricket-protein venture influenced Magic Spoon's protein emphasis. The company recently raised seed funding to support growth.

Participated · Seed · Sep 2021

Immi develops plant-based instant ramen that is lower in carbohydrates and higher in protein than traditional instant noodles, initially launching three flavors: Spicy “Beef,” Tom Yum “Shrimp,” and Black Garlic “Chicken.” The company has seen strong direct-to-consumer demand, grew revenue over six times year‑over‑year, and has sold out seven times since 2021. Immi expanded into retail in 2022, launching at Whole Foods, Wegmans and The Fresh Market, and its private tasting community has grown from about 4,000 to 6,000 members. The company plans to unveil nine additional flavors and is experimenting with another 12 potential flavors, plus exploring other products outside of ramen. Product roadmap work includes noodle texture and cook-time improvements and new formats such as cups. Management plans to use new capital to round out its executive team, fund product development research, and expand retail distribution nationwide. Immi produces plant-based, low-carb, low-sodium instant ramen cups that average 22 grams of protein and come in Black Garlic “Chicken,” Tom Yum “Shrimp,” and Spicy “Beef.” The founders, Kevin Lee and Kevin Chanthasiriphan, went full-time on the company in 2019 and spent several years on R&D to reformulate a product that replicates traditional broth taste, mouthfeel, texture and slurpability. The company launched its products in January and sold out inventory in the first month; it has since sold over 10,000 orders and built a 4,000-member community used for rapid taste testing. Immi plans to expand its product line with more flavors and noodle types and to develop additional Asian food products like snacks and confections with cleaner ingredients. The team is focused on marketing and distribution growth, including expanding into wholesale channels and online grocers and exploring international sales. The company is hiring for key executive roles and working to optimize its supply chain while continuing product iteration based on customer feedback.