The investment comes as the brand aims to be the first CBD producer to gain approval by the Food Standards Agency (FSA), which will introduce stringent rules on the sale of CBD in the UK from the end of this month.
The capital raised – on a company valuation of more than £2.6 million – will be invested in a new facility and wellness space, in London, as well as the development of new products as the firm branches out into the non-CBD health and wellness market.
Russell is joined by a host of well-known names in business, including former Scottish finance director of the year and former Clyde Blowers Capital director, Alex Stewart.
Former All Blacks head coach and current director of New Zealand Golf, John Hart, has also invested in the Scottish founded and London-based CBD producer.
Russell, who is also a brand ambassador for the brand, said: “I have invested in Pure Sport CBD because I use it, I trust it, and I believe in the people behind it.
“I benefit from Pure Sport CBD every week to aid in my recovery from the rigours of professional rugby, and so do countless others throughout the game and sport at large.”
Grayson Hart, who founded the business with former Glasgow Warriors teammate Adam Ashe in 2018, said: “This is a fantastic level of investment at an important time for Pure Sport CBD. The calibre of investor from a range of sectors shows the confidence there is in the brand and the direction of travel.
“We have an ambition to make Pure Sport the biggest and best CBD brand in the world, and this round of investment marks a significant step on the road to achieving it.”
The investment arrives hot on the heels of the launch of the brand’s online running club, which has already gained more than 700 members and forms part of its growing legion of fans around the world.