SEED invests in CBD brand business
pharmafile | October 4, 2021 | News story | Sales and Marketing |
SEED Innovations Ltd has announced that it has invested a further £150,000 in South West Brands Limited (SWB), a multi-brand consumer goods group developed specifically for the CBD industry.
Cannabis supplements the body’s natural endocannabinoid system, and can be used to treat medical conditions such as pain, anxiety, inflammation, and epilepsy among others, according to Celadon Pharma.
SWB has recently launched a consumer healthcare brand to produce vegan and cruelty free self-care products with CBD ingredients. This is part of the company’s efforts to grow their presence in the burgeoning CBD industry.
The Investment is by way of a second 12-month, eight percent convertible loan note, as part of a funding round by SWB to raise £300,000. The Investment takes the total amount invested by SEED in SWB to date to £450,000.
Ed McDermott, CEO of FastForward, commented: “South West Brands have made considerable progress since our last investment with the successful launches of two consumer brands which, from what I have seen, have received a very positive reception from users to date.
“These first brand launches, which are generating SWB’s early revenues, are testament to the hard work Rebekah Hall and her team have put in, and I am pleased SEED are able to support SWB in their growth and I look forward to further advances by the team in their quest to grow a credible, sustainable and scalable consumer CBD business.”
IMARC Group expects the Europe CBD oil market to grow at a CAGR of around 23% from 2021 to 2026. The UK CBD industry is also projected to reach a market value of £1 billion by 2025.