Open Book Extracts Raises $11.5M in Series B Funding

Open Book Extracts

Open Book Extracts (OPX), a Roxboro, NC-based cGMP-certified manufacturer of plant-based cannabinoid products, raised $11.5M in Series B funding through its parent company Steady State.

The round was led by Nortecapital and KEY Investment Partners.

The company intends to use the funds to accelerate safety studies and efficacy research, build additional scale, and support international distribution opportunities.

Led by Dave Neundorfer, chief executive officer, and President Oscar Hackett, OBX offers one of the largest portfolios of cannabinoid isolates at 99%+ purity, including CBD, CBG, CBN, CBC, and THCV, as well as formulation services and turnkey finished good manufacturing including edibles, softgels, tablets, tinctures, pet products, and topical products.

The company also operates OBX Asia, with its headquarters in Hong Kong, which provides strategic guidance and on-the-ground support for our Asia customers.