U.S.: Functional mushroom brand gets investment from leading grower
Functional mushroom brand FreshCap Mushrooms has announced a Series A investment from The Giorgi Companies (TGCI), a leading grower and distributor of fresh and processed mushrooms in North America.
FreshCap Mushrooms sells value-added products such as extracts and supplements through Amazon, its online store, and U.S. retailers.
The undisclosed amount of funding will be used to fuel multi-channel growth and to develop new products.
FreshCap Mushrooms was founded by Tony and Tegan Shields in 2015, initially as a gourmet mushroom farm. In addition, they created freshcapmushrooms.com as a way to teach others around the world how to grow mushrooms at home.
The business soon pivoted to take advantage of the rapidly growing demand for functional mushrooms, with FreshCap Mushrooms releasing its first mushroom extract product in 2017.
FreshCap has since launched six additional functional mushroom products - including powdered mushroom extracts, an encapsulated blend, and other value-added functional mushroom supplements.
“We created FreshCap to help bring the highest quality mushroom products to the world, and to make it easy for people to incorporate functional mushrooms into their daily lives,” said FreshCap Mushrooms co-founder and CPO Tegan Shields.
“Tegan and I are thrilled to be partnering with Brian and The Giorgi Companies. They are leaders in the fresh mushroom industry and just as passionate as we are about spreading the goodness of mushrooms,” said co-founder and CEO Tony Shields.
“Our team is excited to work with the FreshCap team,” said Brian Loiseau, who leads Sales and Business Development for the Foods division of TGCI.
“Consumer interest in value-added mushroom products is driving innovation across multiple categories including beverages, snacks and nutritional supplementation. Tony and Tegan have built a very strong foundation grounded in educating their customer base and a commitment to the highest quality products.”