Yahoo Finance Cannabis wellness firm backed by supermodels raises £2.6m in 12 hours
OTO, a luxury CBD brand backed by supermodels Adwoa Aboah, above, and Jodie Kidd, is plotting expansion worldwide after a crowdfunder raised £2.65 million in just 12 hours.
The Hammersmith-based company, founded by husband-and- wife team Gemma Colao and James Bagley, supplies its cannabis-derived spa treatments, massage oils, sleep aids and skincare treatments to Harrods, Selfridges and Mandarin Oriental hotels.
This week’s sum follows a £1.45 million raise in January as investors pile into the £2 billion global market for CBD.
Bagley said: “We are blown away by the successes of the crowdfunding campaign so far, and delighted that people are willing to invest in our meaningful products.
"The funds raised will allow us to grow our position in the spa industry, make a significant move into Spain as a market and go towards us improving our sustainable credentials as a business.
"We are on a mission to become the LVMH of CBD and knowing that people are willing to invest in our beliefs shows that they are becoming more educated on the value of the power of CBD."
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