CBD (cannabidiol) is all the rage these days. The non-psychoactive element of cannabis, CBD has recently been adopted by people seeking to relieve stress, anxiety, cognitive disorders, pain and more by supplementing the body’s natural endocannabinoids.
London-based Grass & Co., a new CBD based well-being startup, has closed a €847k seed financing round backed by a number of experienced angel investors.
Grass & Co.’s THC-free CBD oil is made using hemp flowers grown organically in Europe, along with complementary botanicals. The CBD is extracted using a state of the art ethanol extraction process to remove all cannabinoids. The ethanol-cannabinoid mix is then distilled into natural CBD extract using advanced chromatography techniques (fluid separation), to ensure a premium alcohol-free oil while simultaneously protecting the oil extract from bacterial and yeast contamination. The CBD oil is then blended with natural, organic botanical ingredients according to Grass & Co.’s proprietary formulations in the UK.
The startup launched in July 2019, with its first CBD product range available through its website. Since launch the business has seen exceptional demand and interest, far exceeding expectations from both consumers and retailers, and today has announced an exclusive partnership with luxury department store Selfridges.
Selfridges will offer a number of select CBD products from the Grass & Co. EASE and CALM collections to its customers visiting its London and Manchester stores or via Selfridges.com. These include the EASE and CALM Body Oils and EASE Muscle Balm for topical application, with plans to stock Grass & Co.’s consumable CBD oil in the future.
Consumer interest and demand for CBD-based products has been growing rapidly with the industry in the UK expected to be worth almost £1 billion per annum by 2025 – equivalent in size to the current entire UK herbal supplement market.
“At Grass & Co. we’re committed to producing a quality, ethically sourced CBD product free from pesticides and herbicides that consumers can trust,” said Toby Gordon-Smith, CEO, Grass & Co. “We offer fully transparent sourcing, extraction and rigorous testing complete with independent certification*2 confirming its exact CBD concentration. We’ve also partnered with some of the best food scientists to develop a CBD formulation with complementary botanicals to provide additional wellness benefits as well as a superior taste and sensory experience.”
Want to know more about European startups innovating in the cannabis industry? Check out our top 10 list from earlier this year.