Kikoko raises $8m in funding to secure its position in cannabis wellness market

Cannabis botanical wellness company for women Kikoko has closed an $8 million Series A funding round, as it aims to offer the healthiest and most environmentally sustainable cannabis products on the market.

With its funding, the Californian company intends to build its team, launch new products and build out its direct-to-consumer sales platform. The recent capital brings its total funding to $14 million to date.

Established in 2015, Kikoko produces cannabis-infused botanical products to address issues such as sleep, stress, pain and anxiety. The company aims to offer consumers ‘sensibly dosed alternatives to pharmaceuticals and alcohol’.

Its products – including its herbal teas and HoneyShots – are made with organically sun-grown cannabis, organic adaptogenic herbs, and pure New Zealand manuka honey.

“When we started Kikoko, there was no momentum in the cannabis industry around women, beverages or wellness,” said Jennifer Chapin, co-founder and co-CEO of Kikoko.

Chapin added: “We saw an opening for innovation and leadership, and an opportunity to own the women’s market and create our own category. We chose tea as our anchor product; we knew that if we could succeed with tea, we could succeed with other products.”

The round was led by Bengal Capital, and other participators included FlowKana, Kikoko’s distributor and supply chain partner.

Sanjay Tolia, a partner at Bengal Capital said: “We are very excited to align ourselves with Kikoko, a company founded by women that is creating health and wellness solutions for women.

“Kikoko has proven hugely successful thus far, and we’re thrilled to assist them in their next phase of growth.”

Kikoko has also made sustainable commitments, including a pledge that all packaging will be compostable or recyclable by its first quarter in 2020.

Michael Steinmetz, CEO and co-founder of Flow Kana said: “The opportunity for California to create the gold standard for a sustainable cannabis industry is grand, and the responsibility to do so even grander. We are so honoured to support Kikoko’s continued growth, as well as its dedication to this mission.”