Perth-based CBD health and wellness firm smashes initial crowdfunding goal

A Perth-based CBD health and wellness business has opened its crowdfunding campaign to the public after smashing its £175,000 target during a pre-marketing phase.

Perth-based Voyager already has 16 products launched and sells via its own website, as well as through a number of third parties and online marketplaces.

Voyager already has 16 products launched and sells via its own website, as well as through a number of third parties and online marketplaces. The funding boost will allow the firm to increase its product range and breadth of distribution.Having opened the pre-marketing phase late in the afternoon on February 11, by the end of the weekend the business already had commitments for £262,260, representing 149 per cent of its original target. It has now opened its crowdfunding campaign on Seedrs to the public.The business was founded last year by Nick Tulloch, former chief executive of Zoetic International, the first CBD company listed on the London Stock Exchange.He said: “We are absolutely delighted with the support we have received from investors and the confidence they have shown by backing us to such a significant extent. We will keep the campaign open for the time being and the additional funds raised will enable us to accelerate our plans.“We have already brought forward our next phase of product launches and we expect to be expanding our operations in Perth very soon.“The market for CBD products is growing rapidly and Voyager aims to become the trusted brand in this increasingly popular health and wellness market. The overwhelming success of our crowdfunding campaign gives us the ability to make that a reality.”Tulloch is joined at Voyager by two other former senior members of the Zoetic team – Paul Mendell, previously chairman of Zoetic, and Eric Boyle, originally a founder of that business and who is now chairman of the Perth firm.According to the Association for the Cannabinoid Industry, the CBD market in the UK is already bigger than the Vitamin C and D markets combined. By 2025 it is expected to be worth £1 billion.Voyager said it had received advance assurance from HMRC that it is a qualifying company under the Enterprise Investment Scheme. As a result, UK taxpayers will be entitled to some significant tax advantages.

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