RE Botanicals recently announced $3 million in Series A funding. Led by current investor BIGR Ventures (Colorado), the additional funding serves to double down on its original investment, which was a first for the growth equity fund in the CBD space. RE Botanicals will use the additional funds to spur expansion, increase the size and capacity of its current organic hemp growing and processing facility in Conway, SC, launch new retail doors, increase marketing investments, and prepare the company to expand further into new channels, such as private label and bulk.
This investment allows RE Botanicals to further the momentum generated by the recent merger with South Carolina’s Palmetto Harmony (RE Botanicals’ sister brand), which created the largest certified organic CBD company in the nation. The two brands, RE Botanicals and Palmetto Harmony, are leading the hemp industry in best practices for the growth and production of high-quality CBD products and their organic products are among some of the first in the CBD space to receive the certification, according to the companies. Additionally, RE Botanicals was the only brand to be rated 100 out of 100 by the Center for Food Safety on their recent Hemp CBD Scorecard.
“While organic hemp products only account for one percent of the marketplace today, BIGR’s investment illustrates the impending growth of organic hemp CBD in a category that is becoming more crowded every day with inferior products,” said RE Botanicals founder and Chief Hemp Officer, John W. Roulac. “With BIGR’s help, we can not only continue to grow our market share but encourage others to follow suit with responsible soil health practices. My prediction is that RE Botanicals will help lead the charge to inspire change, increasing the number of certified organic hemp brands to 10-15 percent within the year. Healthy soils is now being adopted by more farmers to reduce input costs, conserve water, increase organic matter and address climate chaos.”
“RE Botanicals was our first foray into investing in the world of hemp and CBD following the passage of the 2018 Farm Bill, and we chose this company because of their integrity, experienced leadership team and mission-driven commitment to organics and regenerative agriculture,” said Carole Buyers, managing partner of BIGR Ventures. “We’ve always been strong believers in organic practices in the food space, and as the CBD industry continues to grow, we echo John’s sentiment to lead by example by putting our funding into a company whose transparency, testing, quality and environmental conservation stands above competitors.”
For more information, visit www.rebotanicals.com and www.palmettoharmony.com.
