CBD brand Prima attracts $9.2m in huge seed funding round

An American wellness brand has raked in $9.2m in a bumper seed funding round.

The Uplifters’ Prima – commonly known as Prima – will use the cash to fund retail expansions and clinical research.

Founded in 2019, the CBD firm produces more than a dozen consumer products pitched at the beauty and self-care market.

The funding round was led by a host of venture capital firms, primarily Greycroft, H Venture, Defy and Lerer Hippeau.

Among the backers is Emerald Health Therapeutics, a Canadian cannabinoid product producers which will give Prima ‘access to proprietary…innovations’

Christopher Gavigan, Prima founder and CEO said: “As an experienced team building a CPG platform of the highest integrity, credibility, consciousness and quality, we realise it is our duty and responsibility to impose uncompromising and rigorous standards and boldly self-regulate to lead this emerging functional wellness industry forward.

“With this meaningful funding, Prima will continue its focused investments in plant-driven, clean formulation science, R&D ownership, efficacy validation, operational infrastructure, sustainability initiatives and tech-enabled consumer experiences.

“Prima is even more emboldened to broaden our digital and retail strategies, build best-in-class education partnerships and ensure these therapeutic botanical compounds are destigmatised, understood and accessible for all.”

According to a statement, the company expects to have its products stocked in 800 new outlets this year alone.

Laurel Angelica Myers, Prima COO, said: “Our team brings institutional strategy, sophistication, capability and execution to a burgeoning sector that has yet to see any brands like Prima.

“As a Certified B Corporation that is Carb

on and Plastic Neutral Certified and EWG Verified, Prima is built on strong, sophisticated, sustainable infrastructure across every touchpoint of the business.”