Chicago CBD startup Equilibria raised its first round of funding to help it expand and launch new products.
Equilibria, founded in 2019, recently announced that it closed a $1.97 million seed round in March. The round was led by Salveo Capital, which invests in cannabis businesses, and Hyde Park Angels.
As part of the investment, Jellyvision CEO and Hyde Park Angels member Amanda Lannert is joining Equilibria’s board of directors.
Founded by Marcy Capron Vermillion and Coco Meers, Equilibria sells CBD gels, oils and creams specifically for women that are designed to help with anxiety, sleep and menstrual cramp relief.
Meers is also the founder of on-demand, salon scheduling app Pretty Quick, which she sold to Groupon in 2015.
Equilibria says its products are made from CBD that's been harvested from an organic, 1,100-acre farm in Colorado. CBD products contain elements of cannabis that don't give users the high associated with marijuana.
The startup’s products can be purchased on its website or through monthly subscription boxes. Equilibria also provides customers with on-staff pharmacists and cannabis educators that recommend appropriate, daily dosages.
The company says that within its first year, revenue grew 50 percent month-over-month and now employs an all-women staff of 30. With the new funding, Equilibria says it plans to expand its suite of products.
“Equilibria’s high-quality CBD products, delivered to your doorstep, have become essential wellness products for thousands of women across the country” said Jeff Howard, the managing partner at Salveo Capital, in a statement. “The explosive growth that the Equilibria team continues to deliver despite the challenges of the current environment is truly impressive.”
