Health and wellness company focused on producing high quality CBD and hemp seed oil products
|Location||PERTH, United Kingdom|
|Sectors||Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C|
|Incorporation date||12 Nov 2020|
- UK’s CBD market expected to be £1 billion by 2025
- Two brands; 16 products; multiple distribution streams
- Experienced management team: founded by ex-CEO of Zoetic
- Targeting potential IPO
CBD is the best known cannabinoid in hemp, part of the cannabis family, and used for a wide range of health & wellness applications.
The CBD market in the UK is already bigger than the Vitamin C and D markets combined at £300m. By 2025 it is expected to be worth £1bn with 1m regular users, making it larger than the entire herbal supplement market.
What a few years ago was a curiosity is now becoming mainstream. With fast growth comes regulation and it is no surprise that the FSA, and their global counterparts, are taking increased interest. New rules take effect in the UK on 31 March 2021.
Voyager was founded in 2020 by Nick Tulloch, former CEO of Zoetic International plc, the first and, to date, only CBD company listed on the London Stock Exchange with a market capitalisation over £100m. With an experienced team and a product line created in preparation for the new regulatory regime, Voyager aims to become the trusted brand in this increasingly popular health and wellness space.
Substantial accomplishments to date
Having built a UK CBD business from scratch before, Nick and the team were able to take Voyager from concept to first sales in under a month.
Since then, our key milestones to date are:
· In November 2020, £500,000 raised in an over-subscribed seed funding round
· First distribution deal also agreed in November – our products have been available on third party sites since then
· Voyager is also available on 4 online marketplaces – Amazon, Ebay, OnBuy & Etsy
· New stores being signed up – 2 new partnerships signed in January 2021
· Also in February, we launched VoyagerLife, a complementary range of beauty and skincare products, almost doubling our total range and accessing new market segments
· Social media followers quadrupled in the last 3 months of 2020. Aggregate followers across all platforms now exceed 1,500
· Two new members of staff taken on in past two months – product development and digital marketing
Our own remuneration is contingent on success. Every director has personally invested in Voyager and has agreed to draw no salary for the first 12 months.
Our capabilities have already attracted others. We have received expressions of interest from other companies in merging with Voyager. We will remain open to the right partner as we expand, subject to preserving the culture we are built on, but we continue to focus on our strategy until then.
CBD is all too often confused with cannabis/marijuana. We believe that success will be determined by a professional approach and strict compliance with rules. The FSA said in early 2020 that only CBD food products where a valid novel food application has been submitted by 31 March 2021 will be allowed to remain for sale. Whereas other companies may need to change formulations or even withdraw products, our products have been prepared with these new rules in mind from the start.
Increasing sales is paramount so we intend this year and next to launch more products across our ranges and, crucially, continue to open more distribution channels. Through social media, pop up events, conferences and trade fairs, we will raise awareness of Voyager.
Significant sales growth will be driven by expanding our network of stores, both online and high street. We will achieve this through creative and high quality product innovation, supported by our growing brand recognition.
Use of proceeds
We will apply our funds to:
New product launches – building on both the Voyager and VoyagerLife brands.
Brand recognition – a consistent and organised approach to SEO and digital marketing.
Innovation – we want to be at the forefront of the next generation of CBD health & wellness. Incidentally, it’s not all about CBD. Hemp seed oil has many nutritional and skincare benefits and features prominently across our products. That makes us a bit different.
Balance sheet strength – support shelf space in retailers. Small companies make little progress with big retail chains if they can’t fulfil big orders and demonstrate their own financial security.
Over time, we also intend to integrate our own manufacturing and extraction capabilities giving us control over our supply chain and product development.
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