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Gwella Mushrooms CEO Peter Reitano said, “We've got some great early stage traction, over a million run rate, revenue and a great path to profitability, which is rare in this space.”
Gwella Mushrooms CEO Peter Reitano: Early Stage Traction, Revenue and a Great Path to Profitabilityyoutu.be
Mushrooms as a wellness tool have seen a real growing uptake over the last decade, according to Gwella CEO Peter Reitano. While functional mushrooms are a relatively new wellness staple in the west, psychedelics have been used for a millennia, and Gwella is glad to be a part of the space at a time when consumers are demanding health and wellness support in every aspect of their lives.
Reitano says mushrooms may be a key ingredient in our wellness routines, and psychedelics may be the source for profound life-changing experiences. Whether it be macro doses that raise consciousness or microdosing to improve cognitive output and creativity, wellness as a subjective goal is where consumers are focused. Of course, clinical psychedelic support can be an important piece of personal health, but Gwella believes it is a thin slice of the opportunity in terms of what these substances 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. What could be called the betterment of the well, not just healing the sick. We're very early in the space right now, but destigmatization, deregulation, and a lot more normalization is rapidly growing amongst the majority. We're trying to produce consumer products, tools, content and education to help people use these substances for better outcomes.”
Gwella’s flagship, Mojo Microdose, contains a complex blend of 11 bio-active ingredients, including the company's proprietary Cordyceps Sinensis (CS-4) mushroom concentrate.
“Mojo was built to have a stack of 11 different ingredients, botanicals, nootropics, and functional mushrooms that combined, create a synergistic effect replicating the reported benefits of microdosing," he explained. "Mojo is available in the US and Canada and is driving significant revenue right now. In the long term, we're looking to add different compounds like psilocybin into these stacks, where we've already built the brand and the consumer base for a wide variety of use-cases.”
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.”
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