Wellness start-up gains £2.5m seed funding

Law firm Gordons has advised wellness start-up Spacegoods on securing £2.5m in seed funding led by Five Seasons Ventures, alongside backing from Redrice Ventures, Slingshot Ventures and G Fund.

Amy Pierechod, partner and head of start-ups and emerging companies, and chartered legal executive Lauren Wurzal worked closely with Spacegoods founder, Matthew Kelly, on the deal.

A next-generation wellness brand specialising in functional mushrooms-based supplements and nootropics, Spacegoods will use the investment to grow its product range through research and development. The company will also look to expand its headcount across its marketing and product teams.

Spacegoods founder Matthew Kelly said, “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.”

Founded in 2022, the London-based brand makes all-in-one powder blends aimed at enhancing energy, relaxation, mood and general wellbeing. These are marketed as being similar to coffee but without crashes or jitters.

The business, which also has a presence in Europe, has attracted more than 75,000 customers since it was founded.

Pierechod said, “It has been great to work with Matthew on securing this latest seed funding for Spacegoods to enable their growth plans. Spacegoods is an ambitious business with a unique product offering within the market place. We look forward to providing more support as they continue in their start-up journey.”

Gordons’ start-ups and emerging companies clients include marketing and technology platform ContentCal, fintech provider Detected and cyber fraud prevention company Lunio.

The firm has offices in Leeds and Bradford and employs 170 people.