Voyager, which was set as much as provide high-quality cannabidiol (CBD) and hemp seed oil merchandise, will achieve further monetary fire-power and a platform for development by the itemizing.
The agency was based by chief govt Nick Tulloch in November 2020, to capitalise on the “vital alternative” he believes exists because of the forecast development and ongoing regulatory adjustments within the UK’s CBD market. Tulloch is the previous chief govt of Zoetic Worldwide, the primary CBD firm listed on the London Inventory Alternate.
In February, Voyager raised £874,000 by a crowdfunding marketing campaign on Seedrs, and in April it raised an extra £741,000 by a non-public fundraise, together with a dedication of £100,000 from Greencare Capital plc, the Aquis-listed funding firm centered on medicinal hashish and associated areas.
The CBD agency has opened greater than 20 new buying and selling accounts with impartial retail shops and chains within the final month, offering one other “probably vital” income for the agency which has, to this point, relied largely on on-line gross sales by its personal web site and greater than 20 third-party websites, together with in style on-line platforms Amazon, eBay and Etsy.
The corporate has additionally signed a lease on retail premises within the Fife coastal resort of St Andrews. The store, on the college city’s Market Avenue, is because of open by early July and can mark the agency’s first foray into bodily retail area, with the potential of extra retailers to observe quickly in different UK cities and cities.
The agency has a rising vary of CBD and hemp seed oil merchandise, together with oils, “gummies” for oral consumption, bathtub merchandise and skincare merchandise.
In Could, it added a “paw balm” to its more and more in style pet vary, which mixes natural hemp seed oil and cooling aloe vera to assuage and relieve cracked paw pads and noses, and this week launched eco-friendly hemp canine results in additional increase this vary.
Tulloch mentioned: “We’re adopting a strictly skilled method to establishing the corporate and growing our enterprise. CBD is a fast-growing business so it must be no shock that it’s going to entice growing consideration from regulators.
“Mainstream retailers will, rightly, solely cope with absolutely compliant companies, so the strict governance framework we have now established as a part of the material of Voyager is a key factor of our method.
“We’re practical and don’t anticipate in a single day success, however I’m inspired by the tempo of development we have now achieved within the final six months, each by way of new distribution channels and gross sales, which provides the board confidence that this is a perfect time for us to be taking Voyager to the inventory market.”
He added: “We wish Voyager to develop into the pre-eminent trusted CBD model within the UK. With an skilled crew and a product line created in preparation for the UK’s new regulatory regime, we’re well-placed to develop in tandem with the more and more in style CBD well being and wellness pattern.”
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