Wellness brand CBD One has hit a £225k crowdfunding target as it expands its presence in the food and drink market.
Founded in 2017 by brothers Alex and Nick Tofalos, CBD One produces a range of oils and skincare products and has recently launched two new products into the UK food and drink market.
One Shot is a water-soluble formula to be added to hot or cold drinks, while Hatcha is a CBD powder to be used in a range of food and drink applications, such as smoothies, matcha-style tea and in manufacturing as an ingredient.
“We believe both of these products have huge potential in the F&B industry, and we’re already seeing good results,” the business said in its crowdfunding pitch on the Seedrs platform.
CBD One has raised £225k from more than 80 investors, valuing the business at £2.3m.
It will use the money to bolster the entry into the food and drink market.
One Shot is currently used nationwide in Black Sheep Coffee outlets and is also available through a growing number of coffee shops, wholesalers and distributors.
CBD One said discussions were ongoing with a national pub group and a major supermarket chain.
Hatcha was being looked at by a major peanut butter manufacturer and other food brands, the business added.
“CBD One has developed a growing hold in the retail market and is uniquely placed within foodservice where One Shot product allows an outlet to turn any drink, from coffee to smoothies, into a CBD beverage.”
Alex Tofalos added: “Catering for a range of markets from retail, online, foodservice and wholesale, CBD One has the products and the structure to take advantage of the growing interest in CBD products.”
CBD One is currently stocked in a wide selection of health food stores and is served in various coffee shops, restaurants and hospitality venues.
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