CBD products producer Jersey Hemp has opened its Seedrs fundraising, with the aim of raising more than £1.1m from new and existing investors to fund its expansion plans.
The money will be used for further development and commercialisation of the company, which is one of the first completely vertically integrated CBD businesses in the British Isles.
The Seedrs raise, which runs until 3 September, forms part of a larger fundraise aiming for £5m through private placement.
Jersey Hemp’s expansion plans come at a time of rapidly growing demand for CBD products globally. The market in the UK alone is expected to more than triple from £300m to £1bn over the next four years.
The company says its CBD products, produced using organic farming methods, offer consistency, guaranteed CBD content, zero levels of tetrahydrocannabinol (a hemp product that is illegal for non-medical use in the UK) and full traceability from seed to bottle.
David Ryan (pictured), Jersey Hemp Founder, commented: “The Seedrs fundraise gives private investors the opportunity to participate in Jersey Hemp’s growth story, and we’re already seeing a lot of interest in the offering.
"The funds we raise will be used for the expansion of our business through an exciting new phase now that Covid restrictions have been lifted and consumers are returning to the shops.”