A Scottish cannabis firm has set its sights on growth after a bumper funding drive.
Directors at Voyager, which produces CBD and hemp seed oil lifestyle products, set out to raise £175,000 over 40 days.
A surge in interest via crowdfunding platform Seedrs meant the funding window closed after just five days – with £874,000 in the pot.
Voyager claims to be the ‘first multi-product CBD company’ to raise funds this way and it adds to a £500,000 kitty built up during a seed funding round in November 2020.
The company – which is based in Perth – will use the money to launch new product lines and take on four new members of staff.
Nick Tulloch, chief executive officer and Founder of Voyager, said: “This is a landmark moment in the growth of Voyager.
“The level of interest in this crowdfunding round far exceeded our expectations, and 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, and we aim to fulfil our promise of providing liquidity to investors in due course.
“The market for CBD products is growing rapidly worldwide, with predictions it will surpass the entire herbal supplements market to be worth £1 billion in the UK alone in the next four years.
“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.”