Honest Co. Co-Founder Christopher Gavigan is moving into the lucrative CBD market with his newest venture, a direct-to-consumer CBD model called Prima.
According to WWD.com, the company is set to be an educational platform as well as a sales hub, and will also launch its own brand of wellness and beauty products. Prima has already raised nearly $3.3 million in a seed round fund, which was led by Lerer Hippeau with Greycroft, as well as other private and institutional investors.
Gavigan, who started Honest.Co with actress Jessica Alba, said, “Prima is a science-driven, purpose-oriented plant wellness company that is focusing on hemp cannabinoids and trying to unlock their huge potential.”
Talking about what areas the company will move into, Gavigan put paid to items such as CBD tinctures.
“We’re taking a very differentiated and more sophisticated approach to the category. It’s young, it’s emerging, it’s fragile.
“A lot of what we see in the market…are tinctures, there’s oil in a dropper format, and that is a format that I just don’t think is delightful or exciting. I’m not someone who likes to put oil in my mouth and be told to hold it and hope that my body absorbs it.”
Gavigan has launched the business with Laurel Angelica Myers and Jessica Assaf, Founder of Cannabis Feminis, and will initially launch as a CBD educational platform before following up with beauty launches in March.