Improving lives through sustainably produced, high-quality medicinal cannabis oils and derivatives.
- Chaired by Lord Mancroft with an accomplished management team
- Raised £6.1m to date
- 1st harvests achieved, leading to 1st sale in April 2021
- Multiple market opportunities in the well-being & medical markets
Avida Global is a B2B producer of sustainable high-quality medicinal cannabis oils and derivatives for the global medical, well-being and cosmeceutical markets. Headquartered in London we have a cultivation and processing facility in North East Colombia.
The therapeutic properties of the cannabis plant and its potential to improve lives is driving countries to legalise its use - 53 have to date - with recent global events expected to accelerate this further. As a result, the demand for medicinal cannabis is expected to soar from $33.1bn today to $84.0bn by 2028 - a CAGR of 14.3%.
Our cultivation and production processes ensure the highest quality and consistency of our oils. As the market matures, this focus on quality will determine the companies that succeed.
We believe we have the scalability to become one of the largest producers of medicinal cannabis globally; the climatic, horticultural, and cost-based advantages of growing in Colombia, and the business and agronomic knowhow to succeed.
Substantial accomplishments to date
Q3 2018 - Avida Global founded
Q4 2018 - 40-year land lease in North East Colombia agreed for 40-hectare site
Q4 2018 - All licence applications submitted, and 21 seed cultivars registered in the National Registry
Q1 2019 - Key Colombian hires inc. Carlos Orbegozo (H/O Operations) & Ricardo Arboleda (Master Grower)
Q4 2019 - First greenhouse completed and growing begins
Q4 2019 - Lord Mancroft joins as Chairman
Q4 2019 - Award of initial non-psychoactive cannabis cultivation, manufacturing, and export licences granted
Q4 2019 - Award of final psychoactive licences
Q4 2019 - 40-hectare site now fully licenced
Q2 2020 - Peter Ryan-Bell joins as CFO (ExCo for NatWest commercial and private bank)
Q2/3 2020 - £3.1m funds raised
Q3 2020 - Construction of Post-Harvest room begins
Q4 2020 - Second greenhouse completed and growing begins
Q1 2021 - Start of a 3-year clinical trial led by Avida’s Chief Medical Officer, Dr Francisco Cabal, and his team
Q2 2021 - Partnership being finalised with medicinal cannabis prescriber through doctors and clinics for the supply of medicinal cannabis strains in the UK
Q2 2021 - Facility construction complete - first commercial harvests, first major contracts, potential strategic acquisition
In parallel to completing our facility, we have been forging key partnerships with distributors and value-added partners and have a number of exciting opportunities in the pipeline:
Longer-term, we will be vertically integrating across the value-chain to a ‘seed to sales’ business covering cultivation, manufacturing, formulation through to end-consumer and patient. This will enable us to derive maximum profit from the entire value chain.
Use of proceeds
We are aiming to raise funds for the following purposes:
The company has the following outstanding debt:
£50,000 bounce back loan accruing 2.5% pa for 6 years. The first 12 months are interest free.
£135k secured loan note with an interest rate of 8% and a repayment date of 31 March 2023.
£1m Future Fund Convertible Loan Note accruing 8% interest, a 20% discount and a valuation cap of £18.5m. Full details of the terms can be found in the template convertible loan agreement here https://www.british-business-bank.co.uk/ourpart...
This has been priced into the pre-money valuation and is expected to convert as a result of this round.
Avida Global LTD has a 90% owned subsidiary in Colombia - Avida Global SAS. This is due to a Colombian law requirement that a portion of Colombian SAS must be owned by a Colombian national in order to both set up the company and set-up a bank account. In this case, this is a connected party to the Founder and the land-owner.
This subsidiary is used as the operating entity of Avida Global LTD, who purchases finished product from the subsidiary to distribute. All IP and assets are held in Avida Global LTD.
The Company currently banks with a Colombian national bank but wishes to move to one of two international banks, at which point Avida Global SAS will revert to being 100% owned by Avida Global Ltd.
Open an account to get access to the team members of Avida Global
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.