LOS ANGELES— CBD sparkling water startup Infuzed Brands secured an additional $8.6 million in backing. The investment came from a private family office with experience in consumer packaged goods, the company said.
Infuzed Thirst, a line of sugar-free, zero calorie sparkling waters, launched in July 2019. The beverages contain 10 mg of hemp complex per 12-oz can and are available in lime, mango peach, berry and grapefruit flavors. Infuzed Thirst currently has four regional distribution agreements and is available in 200 retail locations, as well as through the company’s direct-to-consumer platform.
The latest investment opens the door for joint ventures, increased distribution and more vertical integration, said Jigme Love, president of Infuzed Brands.
“This is a huge vote of confidence in our company from some very ‘smart money’ looking to align itself with one of the most promising CBD beverage brands on the market,” Ms. Love said. “Our mass-market appeal and growing cult following within the burgeoning CBD space is very attractive to investors and this sizeable investment validates that.”
The $8.6 million investment comes through a recently launched Reg A+ funding round, which follows a Reg D round that saw the company raise $2 million from private investors.