The Courier & Advertiser (Fife Edition)

Perth CBD firm raises £870k


APerth firm that makes products from cannabis extracts has closed a crowdfundi­ng campaign early after raising almost £1 million.

Voyager sells oils, soaps and ‘gummies’ made with cannabis extracts.

The company initially wanted to raise £175,000 on the Seedrs platform to expand its product range.

Investors were undeterred by the Perth start-up’s £1.3m valuation.

A total of £874,000 was raised from 350 people and the crowdfundi­ng campaign closed 35 days early.

Chief executive and founder Nick Tulloch said: “This is a landmark moment in the growth of Voyager.

“The level of interest in this crowdfundi­ng round far exceeded our expectatio­ns.

“It is a clear vote of confidence in our high quality and trusted CBD products. Our new funders have bought into what we believe will be an exciting journey. We aim to fulfil our promise of providing liquidity to investors in due course.”

CBD, short for cannabidio­l, is the nonpsychoa­ctive component of cannabis which is legal in the UK.

It is claimed to have significan­t health benefits, including pain relief and the reduction of stress and anxiety.

Mr Tulloch said the market for CBD products was growing rapidly worldwide.

“There are prediction­s it will surpass the entire herbal supplement­s market to be worth £1 billion in the UK alone in the next four years,” he said.

“As the industry becomes subject to greater regulation, Voyager is doing all it can to ensure our products are of the highest standard and comply with the latest UK Food Standards Agency regulation­s.”

Some Voyager products are imported directly from the United States and labelled in Perth.

Its soaps are manufactur­ed locally after the CBD ingredient is imported.

Mr Tulloch has spoken previously of his desire for a manufactur­ing facility in Perth.

The latest funding follows another oversubscr­ibed seed funding round which saw the company attract £500,000 from investors in November 2020.

The company has created four new jobs at its headquarte­rs at King James Business Centre.

 ??  ??
 ??  ?? GROWTH: Nick Tulloch, Voyager chief executive, with some of the firm’s CBD products.
GROWTH: Nick Tulloch, Voyager chief executive, with some of the firm’s CBD products.

Newspapers in English

Newspapers from United Kingdom