Trip RTD cans

Source: Trip

Trip’s single RTD cans and a new multipack format will launch into 400 Sainsbury’s stores

London-based CBD startup Trip has secured a $5m (£3.54M) cash injection to grow in the US – and has been selected to join Sainsbury’s Future Brands initiative. 

The brand raised the funds from a selection of investors including the likes of Depop CEO Maria Raga and entrepreneur Christian Angermayer.

Trip said the funds raised would help launch its RTD cans and CBD oils into the US market, make new hires and drive the brand’s plans for international growth.

The brand has also been selected to join Sainsbury’s Future Brands incubator programme, becoming the first CBD brand to do so.

Through the programme, its single RTD cans and a new multipack format would launch into 400 stores, Trip added.

In the on-trade, it has signed up to become Soho House Group’s “exclusive CBD brand”, with its drinks and oils set to roll out across Soho House’s private members clubs, hotels, Cowshed spas and restaurants.

The brand’s recent partnership with Deliveroo, which allows consumers to order Trip products, has also expanded to 15 sites across the UK and is set to launch across Europe later this quarter.

Trip co-founder Olivia Ferdi said the brand was “so pleased that there is already such a strong and growing community who take a Trip as part of their daily life and feel that it makes a real difference”.

“Taking this next step in the Trip journey with some amazing partners is really exciting and means that we can better serve the needs of our community, through new and improved product experiences and better content.”

It comes as the Centre for Medicinal Cannabis has predicted UK CBD will become a £1bn industry by 2025 – doubling the fledgling category’s value.