Cannabis-infused foods: Israeli food-tech start-up targets US$1.2m in crowdfunding round
10 Mar 2020 --- Cannibble Food-Tech has opened its second crowdfunding round in Israel with a target of approximately US$1.2 million. The Israel-based food-tech developer manufactures and sells cannabis premixed powder for foods, beverages, nutritional supplements and spices infused with cannabinoids. Cannibble’s first successful crowdfunding round ended last March, making it the first company in Israel to raise more than US$1 million from a crowdfunding platform with over 1,000 investors taking part. The unprecedented crowdfunding success is indicative of a wider trend of THC-free hemp as a star ingredient for use as added protein, Omega 3s, 6s and 9s, and its CBD content.
Cannible manufactures cannabis premix powder.The products have been developed for convenience stores and are sold in single-serve packages for instant servings. Some of the easiest preparations can be produced by the consumer in just a few seconds, such as freshly made cupcakes, shakes or flavored popcorn. Other mixes like the Power Pancakes boast a high content of plant-based protein as well as healthy omega oils.
Following the first round of funding in 2019, Cannibble completed its first qualified production line in Miami, Florida, US, in just six months. The site is where “The Pelicann” CBD and hemp seeds products are manufactured. Cannibble has also invested and completed in this short time its branding, trademarks and packaging according to all food regulations.
This crowdfunding round is targeting a raise of US$1.2 million at a price of $US2.7 per share. The first round offered the company’s shares for a price of US$1.9 per share. This presents a value raise of 36 percent for the first round investors.
The fundraising round is dedicated to achieving five goals which will take Cannibble forward as a market leader in its segment of infused edibles:
- Listing on the Canadian Securities Exchange (CSE) will give the company’s investors the ability to trade the company’s shares, with a target goal of September 2020.
- Opening an office in Miami to serve the CBD and Hemp seeds products in the US locally and worldwide.
- Inventory to address the market demand.
- Marketing and sales selling through hundreds of point-of-sale convenient stores, kiosks, CBD shops, wellness and health shops, etc.
- Expansion to more states and international shipping. The company is negotiating local licensing agreements with THC manufacturers per legalized state.
Cannibble products feature a controlled and measured dosage according to global and local cannabis regulations. The second round of crowdfunding will take place in Israel by the platform Pipelbiz.
Edited by Missy Green
