U.K. CBD Brand Trip Raises $5M To Fund U.S. Market Debut

·2 min read

TRIP, a leading CBD drinks and oils brand in the U.K., is making its U.S. debut following a strategic $5 million (£3.5m) funding round from investors including Depop CEO Maria Raga and serial entrepreneur and investor Christian Angermayer.

In addition, TRIP announced an exclusive partnership with Soho House as its global CBD brand partner.

“We created TRIP after an incredible personal experience with CBD, back before CBD products were available in Europe. We were so blown away, we left our careers to craft a premium range to share the plant’s benefits, knowing so many others would be facing similar challenges of the daily grind, burnout and anxiety,” co-founder Daniel Khoury told Benzinga.

“The pandemic has opened up important conversations around mental wellbeing and we’re thrilled to be growing our community and continue developing products to suit their changing lifestyle needs,” added co-founder Olivia Ferdi.

According to management, proceeds from this raise will be used not only to support U.S. expansion, but also content and product development, and growth across Europe.

TRIP is currently available in more than 2,000 locations in the U.K. including Selfridges, Harvey Nichols, Equinox Gyms and Liberty. The company also has an exclusive CBD store with delivery platform Deliveroo.

“This is TRIP’s first external raise, and we’re so proud of what the team has been able to achieve bootstrapping the business and running it out of our living room through lockdown. Now that TRIP has developed into one of the leading CBD brands in Europe, we are pleased to partner with this great group of strategic investors on the next step of the journey, helping millions of people find their calm. In a post-COVID world,” said Ferdi.

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