CHICAGO — The Bettering Company, a brand of cannabis edibles formulated with fruits, herbs, teas and spices, has raised $6.7 million, bringing its total funding to date to $11 million.
The Chicago-based startup is set to launch a line of gummies in dispensaries across Illinois within the coming months. The products are manufactured in a dedicated cannabis production facility. Founders Mark Cozzi and Drake Nickell said they worked with consultants with years of cannabis production experience to develop techniques that ensure consistent dosing. The gummies are individually wrapped and available in flavors including blackberry lemonade, blood orange, fennel fig, hibiscus chamomile thyme, raspberry mandarin and watermelon chili.
“Despite a decade of legalization, the cannabis market lacks a truly luxury option catered to consumers that want more than just a cannabis delivery vehicle — but a great experience,” said Mr. Cozzi, chief executive officer of The Bettering Company. “There are no cannabis brands truly aligned with the health conscious, flavor-loving consumer, so we set out to build a company to accomplish that. Our mission has been and will be to make every step better in the process. We cannot wait for the world to experience the difference.”
The funding will support construction of a new facility in Rockford, Ill. Additionally, the startup plans to expand its team with key hires across sales, marketing and food production. Eventually, The Bettering Company plans to broaden distribution to other states, including New Jersey and New York.
Backers of the brand include RXBAR co-founder Peter Rahal, among other cannabis sector and consumer packaged goods investors.
“The Bettering Company team is creating edibles 2.0 by taking familiar products and improving on key aspects such as flavor, consistency and packaging,” Mr. Rahal said. “The Bettering Company is fixing the problems people associate with edibles leading to a far better consumer experience.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.