RE Botanicals was founded by John Roulac, the former CEO and founder of superfood brand Nutiva, as a “hobby.” At the starting of the year, Boulder-based RE Botanicals announced they had received an organic certification by the USDA National Organic System for US-grown hemp, a major differentiator in the Wild West of CBD. This month they announced closing a $two million round of funding, with half of the investment coming from BIGR Ventures and the balance from a group of all-natural and organic market veterans.
The brand has distribution in 150 doors, with commitment for an additional 850 and 10 workers. The capital will be made use of for inventory, to develop the group, and invest in advertising and marketing, with the objective of becoming in two,000 doors by fall all in significantly less than a year.
Carole Purchasers, managing companion at BIGR, told NOSH that they been evaluating the CBD space for more than a year alongside broker Presence Advertising, which is owned by BIGR managing companion Bill Weiland. They only felt comfy moving forward with an investment after the 2018 Farm Bill passed, legalizing hemp on a federal level.
“When you feel about what this bill did, it offered each BIGR and Presence the green light to invest in this sector,” Purchasers stated, adding that Presence now also operates with a handful of CBD brands. “I want to say we are a single of the initial institutional investors to take the leap.”
Photo: via livingmaxwell.com