Early Stage Traction, Revenue and a Great Path to Profitability

Functional mushrooms have seen a real and growing uptake over the last 10 or so years, according to Gwella Mushrooms CEO Peter Reitano. And while these functional mushrooms are a relatively new phenomenon in the west, the company is glad to be a part of the psychedelics space at a time when consumers are demanding health and wellness support.

Reitano said functional mushrooms have been used to raise consciousness in people having profound life-changing experiences and microdosing to improve their cognitive output and creativity. However, Gwella thinks of the medicalization side as the thin end of the wedge in terms of what these mushrooms can do.

“Gwella is really working on how to provide people with the tools to be able to use these substances more safely, effectively and responsibly outside of that clinical system. We’re very early in the game right now, but you can already see a lot more destigmatization, deregulation and a lot more normalization. We’re trying to produce consumer products, tools, content and education to help people use these substances for better outcomes.”

Gwella’s flagship Mojo contains a complex blend of 14 active ingredients, including the company’s proprietary Cordyceps Sinensis (CS-4) mushroom concentrate.

“Mojo, our flagship product, was built to have a stack of 14 different substances, botanicals, nootropics, some functional mushrooms and some plants, and the combined synergistic effect replicates the reported benefits of microdosing,” he explained. “That’s available in the US and Canada and is driving revenue right now. In the long term, we’re looking to add different substances like psilocybin into these stacks, where we’ve already built the brand and the consumer base.”

According to Reitano, Gwella is well positioned to be a leader in the psychedelics space now.

“We’re selling directly to the consumer very effectively, and we’re doing a lot of Amazon (NASDAQ:AMZN) work with about 30 stores across the US. But the plan is to get that to 1,000 stores by the end of the year, and to expand internationally to the UK, Europe and Asia,” he said. “We’ve got some great early stage traction, over a million run rate, revenue coming in and we’ve got a great path to profitability, which is rare in this space. We’re really looking for that next bit of firepower to get us to the next level.”

Watch the full interview of Gwella Mushrooms CEO Peter Reitano above.

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