Oleo, Inc., a Seattle, Wash.-based creator of a CBD dietary supplement for fitness recovery, secured $1.5m in funding.
The backers were not disclosed.
The company intends to use the funds to accelerate expansion through product innovation, strategic new hires, and facility improvements.
Founded in 2015 and led by Skyler Bissell, CEO, Oleo is a consumer-packaged goods company designing water-soluble CBD products for the active lifestyle community. The company uses proprietary and patent-pending micro-encapsulation technology, which converts 100% THC-free, pure CBD into a water-soluble, taste-free powder known as OleoCBD™.
The company offers a collection of powdered beverages infused with OleoCBD™, including a CBD powder called Original Mix. Available in single-serving On-The-Go packets, or multi-serving jars, the drink mixes combine 25mg of OleoCBD™ per serving with functional ingredients such as freeze-dried coconut water and real rooibos and black tea, available with or without caffeine to either Energize or Unwind. All drink mixes dissolve quickly in cold or hot water, making them easy to consume at any point throughout the day.