Meaningful Partners led the funding round, joined by existed investors White Road Investments and InvestEco.
Meaningful Partners LLC (Los Angeles, CA) has closed a strategic investment in M2 Ingredients (Carslbad, CA) and Om Mushroom Superfood, which is a vertically integrated nutraceutical platform with a focus on functional mushroom ingredients. Meaningful Partners led the funding round, joined by existed investors White Road Investments and InvestEco. The investment will aid in accelerating the distribution and marketing of Om, and scale manufacturing to meet demand, the company explains in a press release.
"Meaningful Partners is keenly aligned with our purpose driven company," said Dr. Sandra Carter, founder and CEO of M2 Ingredients, in a press release. "Meaningful's network, capital support and strategic vision in conjunction with our current investors and team will position M2 Ingredients to lead the functional mushroom industry in science and scale as an ingredient supplier and to continue to produce high quality, highly efficacious and innovative products through Om Mushroom Superfood. Our company is built on the expertise and passion of our team who have pioneered the functional mushroom industry, and we are proud to have Meaningful Partners support our team and mission."
According to the company, M2 Ingredients operates the largest organic functional mushroom growing facility in North American, which grows ten species of mushrooms that include Lion’s Mane, Chaga, Reishi, Turkey Tail, and Cordyceps, with seven patented strains. The company has built a new 155,000 square food growing facility in Vista, CA, which is slated to open in Q1 of 2024, and will significantly increase the company’s growing capacity.
"At Meaningful Partners, we invest in companies at the intersection of Purpose and Profit so could not be more excited to partner with Sandra, her high performing management team and the existing investor group to help execute on the Company's next stage of growth," said Jake Capps, co-founder and managing partner of Meaningful Partners. "M2 has been at the forefront of providing the highest quality and clinically-backed functional mushrooms for over a decade and with their new, state-of-the-art growing facility will be well positioned to support existing and new customer demand in a category that grew over 50% last year. Additionally, the Company's Om brand has the highest growth of any other scaled brand in the functional mushroom category with a massive opportunity to further increase distribution across every channel of trade to reach customers that are increasingly seeking to embrace natural and clinically backed superfood products to help improve whole body health outcomes."