CHICAGO–(BUSINESS WIRE)–The Bettering Company, a new luxury cannabis edibles brand offering chef-curated edibles that use real fruits, herbs, teas, spices, jams and are consistently infused, today announces $6.7 million in funding, bringing the company’s total funding to date over $11 million. Founded by Mark Cozzi and Drake Nickell, the company’s initial seed round in 2022 included participation from seasoned early stage consumer packaged goods investors including Peter Rahal. The Bettering Company will launch sales of its branded THC-infused gummies in fall 2023 in dispensaries across Illinois.
Despite difficult market conditions for cannabis companies across the nation, The Bettering Company has been able to complete its capital raise – particularly noteworthy for a pre-revenue cannabis company to attract an investment of this size. The $11 million in total funding over the past 16 months includes experienced venture capital, cannabis sector and consumer packaged goods investors. The funds will be used (a) to complete construction of The Bettering Company’s new Rockford, Illinois facility with its state-of-the-art commercial kitchen and (b) to continue to build the company’s management team focused on recruiting top-tier candidates in sales, marketing and food production.
“Despite a decade of legalization, the cannabis market lacks a truly luxury option catered to consumers that want more than just a cannabis delivery vehicle–but a great experience,” said Mark Cozzi, CEO and Co-founder of The Bettering Company. “There are no cannabis brands truly aligned with the health conscious, flavor-loving consumer, so we set out to build a company to accomplish that. Our mission has been and will be to make every step better in the process. We cannot wait for the world to experience the difference.”
In 2022, Americans spent an estimated $30 billion on legal marijuana products and are anticipated to spend approximately $33 billion this year – more than chocolate and craft beer combined (Source). The Bettering Company’s gummies are developed from chef-crafted recipes, which are all vegan and gluten-free, designed for consumers who appreciate the care and craft put into what they are buying. Backed by the company’s mission to improve sustainability, The Bettering Company pouches are made with 35% post-recycled material and each gummy is individually wrapped for functionality. The Bettering Company’s vegan recipes and unique flavor profiles set the brand apart from other options, with fresh marketing and environmentally responsible packaging that is as minimal as the amount of ingredients used.
Obsessed with precision, the company diligently focuses on production techniques that will result in consistent THC levels. The Bettering Company’s products are being made in a 10,000-square-feet facility designed state-of-the-art kitchen – among the largest and newest facilities dedicated solely to edibles production in the United States. The Bettering Company seeks to solve a historical problem in the cannabis sector of inconsistently infused edibles, leaving consumers with hesitancy to consume cannabis in edible form. The Bettering Company has worked extensively with consultants having years of cannabis production experience to develop production techniques that will avoid issues facing many cannabis producers. Additionally, The Bettering Company is working with a testing lab that provides as accurate as possible testing data not only for THC levels but for other food characteristics as well.
“The Bettering Company team is creating edibles 2.0 by taking familiar products and improving on key aspects such as flavor, consistency and packaging,” said Peter Rahal, investor in The Bettering Company and Co-Founder of RXBAR. “The Bettering Company is fixing the problems people associate with edibles leading to a far better consumer experience.”
The core of the company’s mission is crafting luxury-quality cannabis edibles, but The Bettering Company’s vision extends so far beyond the products it makes — prioritizing health, social responsibility and environmental consciousness. The Bettering Company is proudly LGBTQ+ founded, not common in the cannabis sector, as well as employee-owned. The Bettering Company’s products will be available for purchase at dispensaries in Illinois in fall 2023. The Company intends to expand to other states including New Jersey and New York.
For more information about The Bettering Company visit: https://www.thatsbettering.com/
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About The Bettering Company
The Bettering Company is a socially responsible cannabis edibles brand, offering high-quality, hand-crafted, vegan, and gluten-free edibles. Founded by Mark Cozzi and Drake Nickell, The Bettering Company’s mission is to craft consistently infused cannabis edibles that prioritize health and wellness, using minimal ingredients, for health-conscious consumers who value taste and quality. Based in Chicago, the company closed its initial capital raise in Q2 of 2022, with individual investors including Peter Rahal, co-founder of RXBAR.