Kikoko Secures $8 Million Series A Funding to Strengthen Leadership in Women's Cannabis Wellness

VCBeat (WeChat Official Account:vcbeat) According to foreign media reports, local time2019Year11Month14A Leader in Women’s Cannabis HealthKikokoAnnouncement of Completion800in tens of thousands of U.S. dollarsAround of financing. This round of financing was led byBengal CapitalLead,Kikokodistributors and supply chain partnersFlow Kanaalso participated in this round of financing.

To date, Kikoko has raised a total of $14 million in funding. Prior to this investment, the company’s flagship tea products propelled Kikoko to become the top-selling cannabis beverage brand in California.

Kikoko, founded in 2015, is a woman-centric company. Its herbal teas and honey beverages infused with cannabis, along with other upcoming plant-based products containing cannabis, offer consumers reasonable-dose alternatives to pharmaceuticals and alcohol. To address issues such as insomnia, stress, pain, anxiety, low libido, mood disturbances, and lack of focus, Kikoko’s products are crafted from organic sun-cured cannabis, organic adaptogenic herbs, and pure New Zealand Manuka honey.

Jennifer Chapin, co-founder and co-CEO of Kikoko, stated, “When we founded Kikoko, the cannabis industry had no momentum in terms of women, beverages, or wellness. We recognized the innovation and leadership potential within this sector and aimed to build our own brand by capturing the female market. We chose tea as our flagship product because we believed that if we could succeed with tea, we could also succeed with other products.”

Chapin’s prediction proved correct. According to BDS data, Kikoko has led cannabis beverage sales in California for five consecutive quarters, with female consumers comprising the majority. The success of this tea is closely tied to strong sales of Kikoko’s new honey-brewed product line, which was launched statewide in October 2019.

Amanda Jones, Co-Founder and Co-CEO of Kikoko, stated, “As a women-led company, Kikoko is uniquely positioned to develop effective products that address women’s health concerns, designing and packaging them with elegance to capture women’s attention, enhance their understanding, and empower them to feel comfortable trying these solutions.”

Furthermore, Kikoko is gradually emerging as a leader in sustainable packaging, which is uncommon in the cannabis industry. The company has committed to ensuring that all its packaging will be compostable or recyclable wherever possible by the first quarter of 2020. Additionally, whenever feasible, all ingredients in Kikoko products are organic, non-GMO, and fair trade.

With new funding, Kikoko will continue to build its team, launch new wellness products, deepen retail partnerships, and establish a direct-to-consumer sales platform. Reportedly, the latest round of financing will also help the company achieve its goal of bringing the healthiest and most environmentally friendly cannabis products to market.

Sanjay Tolia, Partner at Bengal Capital, stated, “We are delighted to partner with Kikoko, a woman-founded company dedicated to providing health solutions for women. To date, Kikoko has achieved remarkable success, and we are excited to support its next phase of growth.”

Michael Steinmetz, CEO and Co-Founder of Flow Kana, stated, “We are proud to partner with Kikoko. The opportunity to establish a gold standard for sustainability in California’s cannabis industry is immense, and the responsibility to achieve this goal is even greater. We are honored to support Kikoko’s continued growth and its dedication to this mission.”

Bengal Capital was founded in Chicago in 2006. Initially, Bengal Capital actively participated in the global derivatives market; more recently, it has provided advisory resources as well as seed and growth capital to operators in the cannabis industry.

Flow Kana is the first sustainable, sun-grown cannabis brand that represents California’s unique microclimates and small-farm ecosystems.

(Compiled by Xiong Hui)