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Sunday, Jun 4, 2023

Funguys Inc. Raises $5.4M to Market Mushroom Drinks

Santa Monica-based Funguys Inc., a food company that sells a Four Sigmatic brand of mushroom coffees and teas, has raised $5.4 million from investors.

The six-year-old company raised $5,388,053 in a securities sale to three investors, according to a Dec. 17 filing with the U.S. Securities and Exchange Commission.

The aptly named Funguys was co-founded by self-proclaimed “fungi lovin’ foodpreneur” Terro Isokauppila, the company president who says he grew up on a family farm in Finland foraging for mushrooms and other wild foods.

Four Sigmatic now bills its “superfood” collection of mushroom-based coffees, teas or mushroom-based medicines and lotions as “a little Everyday Magic to the lives of all.”

They are now sold from a Shroom Room mushroom coffeehouse in Venice to Whole Foods markets to Amazon.com, and in more than two dozen countries worldwide.

The company website lists a team of 29 employees, including Isokauppila, but not co-founder Mikko Revonniemi, a former chief executive who now serves as an advisor.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.

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