Newly formulated water-soluble tinctures for pets could set a new standard for CBD delivery in pet products.
Socati Corp, a subsidiary of Yooms Wellness and leading US pet cannabinoid brand Super Snouts, has announced the launch of the market’s first line of USDA certified organic, water-soluble CBD tinctures for pets.
The new product line is a result of an in-depth collaboration between the two industry-leading firms that sought to develop a next-generation product able to deliver value to pets and their owners.
The line is the first of its kind and could make it easier for pets to consume and absorb CBD, which many owners report relieves pain and stiffness and helps calm anxious animals.
A recent report from cannabis market research company, the Brightfield Group found that consumers spent $426 million on pet CBD products in 2020.
The firm expects this figure to reach $629 million in sales by the end of 2021.
“We believe that water-soluble CBD drops are a great mechanism to deliver CBD to pets,” said Christy Love, co-founder of Super Snouts. “
“The drops can be mixed with food at mealtimes while the absorption of water-soluble ingredients continues to work in water-soluble environments in pets’ bodies. Most CBD pet products are oil-based, but for absorption of edible CBD oil-based products – via the oral mucosal membrane – dogs are required to hold the oils in their mouths. Anyone who has dogs will know that asking them to hold food or liquid in their mouths for any length of time isn’t just impractical, it’s impossible.”
Super Snouts has been on the frontline of pet product development for several years.
The new water-soluble CBD tinctures offer 90, 150, 300, and 600mg CBD dose sizes and come in a chicken flavor, created using USDA certified organic broad-spectrum hemp, which is also 100 percent vegan.
“We know from experience in our industry, CBD products provide benefits to pets, and we believe that these water-soluble products will be a game-changer,” added Love.
“Innovating new and unique CBD products that better suit their users – whether those are pets or people – is an exciting business to be in,” said Mark Elfenbein, Chief Revenue Officer at Socati. “We’re very privileged to work with many of the most progressive CBD brands in the market, including Super Snouts, and look forward to continuing to leverage our formulations capabilities to help create next-generation products that move the market forward and provide users with great experiences.”
Using its advanced chromatography process, Socati’s organic products benefit from non-detectable levels of THC (in broad-spectrum extracts, as determined by independent testing with US laboratories), high purity CBD, custom minor cannabinoid ratios, and optional USDA Certified Organic extracts.
They are tested and verified by third-party labs, produced in a GFSI certified food-grade processing facility, kosher, and made to ingredient grade specifications.
Swiss CBD investment company secures £26.23m funding
Pharma Tech Holding has obtained a capital commitment agreement from LDA Capital.
Pharma Tech Holding SA has secured a CHf30m (£26.23m) investment from global investment group LDA Capital Ltd – with expertise in cross-border transactions including the agriculture, Agri-tech, and CBD industries – which will support its portfolio investments.
Pharma Tech Holding SA invests in innovative businesses with high technological value and scalability potential, mainly in Switzerland and Europe, with a focus on the health-tech, agri-tech, and functional food.
The CHf30m investment from LDA Capital will allow the company to invest and support its portfolio company Blue Sky Swisse SA, which focuses on the extraction of natural active principles from vegetable matrices, vegetable waste, and renewable sources to deliver B2B products under the form of CBD oil, terpenes and waxes.
The factory, located in Biasca, will be built with state of art of extraction technology using supercritical CO2, and will be self-sufficient through the use of solar photovoltaic panels and district heating.
CEO at Pharma Tech Holding, Sabina Del Nigro, commented: “We’re thrilled with this partnership and are so glad that LDA Capital recognises the value of Pharma Tech Holding and its portfolio company, with the aim of creating one of the most innovative hubs for health-tech, agri-tech and functional food.”
Blue Sky Swisse will make high-quality CBD due to a proprietary extraction process, starting from the farming, performed under strict control and culminating with the immediate freezing of the flowers after harvest.
It will also sell “all natural” formulations to increase bioavailability and will invest in the agricultural raw material chain, as well as creating an aeroponic greenhouse in Ticino, to deliver a high-quality GMP pharmaceutical CBD oil.
LDA Capital agreed to commit an amount of up to CHf30m in cash within a maximum of three years. This Capital Commitment will be released based on drawdowns by Pharma Tech Holding, which Pharma Tech Holding has the right to exercise at its sole discretion.
Tenacious Labs acquires CBD pet company Rover’s Wellness
The acquisition is part of Tenacious Labs buy-and-build strategy.
Tenacious Labs has diversified into the pet care market with the acquisition of Rover’s Wellness, which specialises in THC-free CBD.
The acquisition sees the group diversify into the high-growth pet care market for the first time. CBD pet care, according to Prohibition Partners, is expected to see global sales of products reach $424.4m (~£350.83) by 2024, representing a CAGR of 18.6 per cent.
As part of the acquisition, RaChelle Baca-Lobre will join Tenacious Labs as global director of sales – pet division and CPG wholesale and private label. Tenacious has stated that Baca-Lobre’s personal passion for CBD-enriched pet care, as well as her experience in managing a fast-growing brand, will prove invaluable for the Group as it looks to scale up its pet care division over the coming months.
CEO and co-founder of Tenacious Labs, Nicholas Morland, commented: “We are delighted to welcome RaChelle and her team to Tenacious Labs.
“Since launching in 2018, Rover’s Wellness has grown rapidly, launching genuinely market-leading products which have been well received by customers across the US. This acquisition will enable us to kick-start our pet care division, while combining RaChelle’s expertise and Tenacious Labs’ high quality manufacturing capabilities to significantly scale up Rover’s Wellness.
“We look forward to working with her closely over the coming months and years.
Tennessee-based Rover’s Wellness creates high quality products containing all natural, non-GMO ingredients including 100 per cent certified organically grown hemp. The company was founded by Baca-Lobre in 2018 after her own pet was diagnosed with cancer. Rover’s Wellness offers a range of oils, topical salves and treats which use CBD to support joint flexibility and mobility, ease anxiety and promote positive long-term health for dogs, cats and equine.
A core part of the brand’s approach is its commitment to testing and transparency. Leveraging a “seed to sale” approach, Rover’s Wellness works directly with growers and uses state-of-the-art nano technology to extract CBD before purity testing.
Each batch is tested by a certified industrial hemp laboratory, both before and after production, with all lab-results published on its website. This process ensures that none of Rover’s Wellness products contain THC – the psychoactive ingredient in cannabis which is harmful to animals.
Baca-Lobre said: “I am excited to join Tenacious Labs, a group which reflects my desire to create safe, natural and quality products, underpinned by third-party laboratory testing.
“We have enjoyed great success to date, and I believe that by harnessing Tenacious Labs’ best-in-class manufacturing facilities, marketing expertise, and operational support, we can unlock more exciting growth opportunities for Rover’s Wellness and the group’s broader pet care division.”
Tenacious Labs has now completed three acquisitions since launching 12 months ago, including female-focused CBD brand Press Pause and high-quality white-label manufacturer SZM LLC — now operating as TL Manufacturing. The group has also continued to expand, now employing 35 people around the world as it looks to scale up.
SEED Innovations ramps up investment in South West Brands
The company has now invested a total of £500,000 in South West Brands.
SEED Innovations has invested a further £50,000 in CBD company South West Brands Limited.
Focusing on making investments in the medical cannabis, health and wellness spaces, Guernsey-based SEED Innovations made its last investment in South West Brands of £150,000 in 2021, bringing its toady investment in South West Brands to £450,000.
South West Brands, which recently saw its Botanic Lab drinks and supplements added to the UK Food Standard Agency list of CBD products permitted to stay on sale in England and Wales, has recently had two of its products listed in major UK retailers.
Its LoveMeMeMe brand is now stocked in Asos and its FEWE brand will be stocked in Superdrug from September.
CEO of SEED, Ed McDermott, commented: “We have seen some considerable progress made by the team at South West Brands over recent weeks with the launch of their two brands for sale in to Superdrug stores and online at ASOS.
“The products have received a fantastic reception by consumers in what is fast becoming a burgeoning FemTech sector where South West Brands are leading the charge.
“Generating early revenues, with the products now increasingly available, we anticipate seeing a fast uptick in wholesale sales which will further lead to additional product development and hopefully support for the products availability outside of the UK.
“We are pleased to continue to support Rebekah Hall and her team as they build a credible, sustainable and scalable wellness business developing and commercialising their brands.”
CEO of South West Brands, Rebekah Hall, said: “The progress SWB has made in the short time since launch is just the beginning of where we believe our brands can reach. In particular, we are at an exciting juncture in the provision of female wellness solutions with increased awareness infiltrating mainstream audiences and building commercial traction with mainstream retailers.
“With further funding in place, including the support from SEED, we look ahead to continued growth in the UK as well as commercial opportunities in other markets, including the US. “
The investment is by way of a three year, 8 per cent Convertible Loan Note (CLN), and SEED has agreed to convert £50,000 of the 12 month, 8 per cent CLN subscribed for in July 2021 into this three year, 8 per cent CLN.