CBD dietary supplement company Oleo has raised $1.5 million in funding, which will be used to accelerate its expansion through product innovation, new hires and facility improvements.
Founded in Seattle in 2015, Oleo said a key element in its success in securing this round is its proprietary and patent-pending micro-encapsulation technology, which converts 100% THC-free, pure CBD into a water-soluble, taste-free powder called OleoCBD.
The micro-encapsulation process is also said to remove the bitter hemp aftertaste associated with CBD, allowing the firm to offer a variety of drink mixes that include Coconut Mix, three flavours of Rooibos Tea Mix, and Original Mix – a flavourless CBD boost.
“We are thrilled to take this next big step by partnering with an amazing team of investors who are excited to help fuel our growth, driving CBD and Oleo into mainstream consumer packaged goods,” said Oleo CEO and co-founder Skyler Bissell.
“Our investors, many of whom are based in Oleo’s home in the Pacific Northwest, are excited to invest in not only an emerging brand setting the industry standard for quality and taste, but also influence the CBD industry – the most rapidly growing consumer products segment in North America.”
Available in single-serve packets, or multi-serving jars, Oleo drink mixes combine the benefits of 25mg of OleoCBD per serving with the power of functional ingredients such as freeze-dried coconut water and real rooibos and black tea, available with or without caffeine.
All Oleo drink mixes dissolve quickly in cold or hot water and are 100% THC-free with zero intoxicating effects.
© FoodBev Media Ltd 2020
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entry 11 September – enter now!