New York, NY--UK's CBD brand, TRIP, announced in a press release a $12 million investment supported by prominent entrepreneurs, business leaders, and investors, including Maria Raga, the former CEO of Depop, and Christian Angermayer, founder of Apeiron Investment Group. This latest round of funding will support the brand's continued growth in the United States and globally.
The press release notes that TRIP was founded by husband-and-wife team Daniel Khoury and Olivia Ferdi after meeting at Cambridge University. The duo launched TRIP after a transformational personal experience with CBD when it helped Daniel recover from an accident that required knee surgery just before their wedding. Amazed by CBD's benefits, the two left their careers in law and finance to launch TRIP together and designed an award-winning range of drinks, oils, and gummies to help people find calm.
Since the company's launch in 2019, it has rapidly attracted a highly engaged online community – with 94% of customers recommending the brand to friends and family – signaling its domination of the CBD space in the UK with 88% market share and distribution in over 11,000 retail locations.
"TRIP is a Soho House favorite," said Soho House & Co. Drinking Director Tom Kerr, in the release. "After assessing CBD brands globally, we knew TRIP was the perfect partner brand for Soho House. Since launch, they've been a huge hit in our houses around the world."
The CBD wellbeing category is continuing its steady upward trajectory, already measuring more than $12.8 billion. This forecasts the potential growth for TRIP as a brand.
TRIP Co-Founder Olivia Ferdi attributes this growth to the seismic shift in conversations regarding mental health and wellbeing across the globe, stating in the release, "Over the last few years the world's attitude towards the importance of mental health has changed dramatically. Since discovering the power of CBD through an incredible personal experience, our mission has always been to share calm in the everyday chaos with next-generation wellbeing products to power your lifestyle and help care for your mental health. Helping to open up conversations around stress and anxiety, we're excited to create a community across the globe, harnessing the power of plants to find their calm."
Read more in this release.