Green Gorilla, Inc., a Los Angeles, CA-based brand operating in the hemp and cannabis industries, secured $2.5m in funding.
Co-founder Steven Saxton provided the initial seed money, which was followed by additional capital raised through a small convertible debt round of $250k+. The company’s subsequent Series A $1M equity round was increased in size, to include a $1M investment made by an institutional investor. The goal is now to raise an additional $100m privately (through accredited-investor-only prospects) and launch an IPO in 2017-2018.
Co-founded by Saxton and Philip Asquith, Green Gorilla is building an international brand in the hemp and cannabis industries. The company is currently in the process of launching its initial product line, Hemp & Olive. This product line consists of over 50 unique supplements, cosmetics and pet care products, all based on 100% organic extra virgin olive oil infused with 100% pure & plant-based cannabidiol (CBD).
Hemp & Olive’s products are all 100% Organic, Non-GMO, Vegan, Paleo, Kosher, Gluten-Free, & Sugar-Free.
The line will be backed by a web portal (www.ILoveGreenGorilla.com), focusing on retail, information and interaction, and selling both Green Gorilla and select third party products.