Home Business NewsBusinessBusiness Growth News TRIP CBD raise $5m from DEPOP & VC for US expansion

TRIP CBD raise $5m from DEPOP & VC for US expansion

by LLB Finance Reporter
21st May 21 8:39 am

London-based start-up TRIP has quickly become the UK’s favourite CBD brand, with their range of award-winning CBD drinks and oils. May 2021 sees the TRIP team secure their first public raise of $5million (£3.5m), in partnership with key strategic investors including Maria Raga, Depop CEO, and Serial Entrepreneur and Investor, Christian Angermayer. Funds will support the cult UK brand’s launch into the US market, content & product development, alongside driving growth across Europe.

TRIP is also pleased to announce their appointment as the exclusive CBD brand to Soho House Group globally; TRIP CBD drinks and CBD oils will be available across the private members club, its hotels, Cowshed spas and restaurants around the world. Soho House Beverage Director, Tom Kerr says, “We assessed CBD brands globally to find the best partner for Soho House. TRIP is a great brand that creates the best CBD products we’ve ever tasted, that fit exactly into the Soho House lifestyle.”

Dubbed “The Glossier of CBD”, TRIP has rapidly built a highly engaged online community connecting with millions of people sharing their first CBD experience. With over a third of consumers returning monthly, TRIP has created a cult following. Focussed on conversations around mental wellbeing and positioned at a new cross section of lifestyle, beauty and wellness – TRIP is available in over 2000 locations including Selfridges, Harvey Nichols, Equinox & Liberty.

The raise signals TRIP’s strong brand proposition catering to shifting lifestyles and the growing market for alcohol alternatives. The pandemic has reshaped shopping online for beverages and CBD; TRIP’s pioneering exclusive CBD store with Deliveroo has catered to the on-demand needs of working in the new normal, with the TRIP x Deliveroo partnership expanding to 15 sites in the UK. In a post-covid world, TRIP’s consumer touch points across functional beverage, beauty and supplements speaks to the new attitudes around everyday wellbeing.

Maria Raga (CEO Depop) “TRIP understands the power of connection and community having built a cult of loyal fans. Gen-Z’s attitudes to lifestyle and wellbeing are changing the landscape and TRIP is positioned to continue to drive connection in this space, set to become a global leader in next generation wellness.”

Christian Angermeyer (Serial Entrepreneur and Investor) commented “TRIP has created a stand-out brand that has made it easy for millions of consumers to try CBD for the first time. I believe TRIP will be the brand that brings CBD truly into the mainstream. I’m really excited to be part of the journey with this fantastic team.”

Co-Founder of TRIP, Olivia Ferdi comments, “Now more than ever, the world is recognising that mental health is intrinsic to good health. Our mission has always been to share calm in the everyday chaos. Changing perceptions of wellbeing and building new lifestyles with our TRIP range and CBD expertise, we’re excited to take this next step for TRIP together with these amazing partners.”

Founded by husband-and-wife team Daniel Khoury and Olivia Ferdi, who met at the University of Cambridge and subsequently left careers in law and finance to launch TRIP. Weeks before their wedding, Daniel was injured and told he wouldn’t be able to walk down the aisle; it was then that the couple found CBD to provide incredible recovery support, just weeks after knee surgery Daniel was back on his feet. The newlyweds became passionate about creating a premium range of innovative, great-tasting CBD products to share the powerful benefits of the hemp plant.

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