CBD brand OTO has secured £2.65m and counting in just 12 hours in its latest crowdfunding campaign.
OTO has raised more than £2.65m, exceeding its £2m target, making it the largest UK-based CBD brand raise on Seedrs and the fastest on UK crowd platforms.
The latest fundraise follows its initial fundraise figure of £1.45m in January this year, making a combined total of £4.1m – the highest raise of any CBD consumer brand within a 12 month period.
Co-Founder James Bagley, commented: “We are blown away by the successes of the crowdfunding campaign so far, and delighted that people are willing to invest in our meaningful products.
“The funds raised will allow us to grow our position in the spa industry, make a significant move into Spain as a market and go towards us improving our sustainable credentials as a business. We are on a mission to become the LVMH of CBD and knowing that people are willing to invest in our beliefs shows that they are becoming more educated on the value of the power of CBD.”
The raise will go towards educating as many people as possible on the benefits of CBD, and, through the creation of even more innovative, quality products and experiences it plans to support more people across the globe.
OTO, which is aiming to increase its presence in markets such as the UK, Europe, Hong Kong and Japan, says investors will receive rewards based on a tiered system and include attendance at the brand’s annual Ibiza retreat, taking place in the summer of 2022.
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