Trip, a CBD company based in the United Kingdom, said it raised $12 million in fresh capital from entrepreneurs, business leaders and other investors.
Among the investors is Maria Raga, a former CEO of London-based e-commerce firm Depop.
In a news release, Trip said the capital influx will “continue to drive the growth of the thriving TRIP community and deepen US distribution.”
Trip said it has 88% market share of the CBD space in the U.K. through distribution in more than 11,000 retail locations.
The global CBD market reached $12.8 billion in 2021, the company said, citing Delaware-based Global Market Insights.