Cirona Labs startup raises $1.5m in oversubscribed seed round for expansion
Cirona Labs, a premier innovator in cannabinoids and other functional botanical ingredient manufacturing, announced that it closed an oversubscribed $1.5 million seed round led by LiDestri Food & Drink, BevSource, and Sweetener Supply. The funding will be used to further expand the company's research and development, facilities, and team as well as support a general push to market and build stronger relationships with existing brands.
Hunter Friedland, CEO, Cirona Labs: "As a newly launched company we are proud to see early market traction and reach this milestone so quickly. It's clear that the interest in creating products with cannabinoids and other plant medicine is continuing to increase and as a company focused on science and offering sustainable solutions to our customers, we are confident our high-quality products will speak for themselves in the industry."
John Lidestri, Co-CEO, LiDestri Food & Drink: "LiDestri Food & Drink and Cirona Labs are both driven to innovate the food and beverage industry. And we must invest in state-of-the-art technology and cutting-edge science to bring products into the future for the best consumer experience. Cirona Labs will be a great partner in our company's future progress, and we are looking forward to what's ahead with our long-term partnership."
Cirona Labs combines powerful technology and years of expertise to create the most advanced active ingredients for infused product makers. Passionate about true scientific innovation, the company provides consistent and efficacious products to consumers while helping manufacturers streamline processes.
Janet Johanson, CEO and Founder, BevSource: "I have watched the Cirona Labs team's growth since the early stages of the company and have been truly amazed by the drive and dedication their team has demonstrated towards creating authentic ingredients for their customers. BevSource aims to provide a seamless process for customers to build, produce and deliver the best beverage possible and Cirona Labs operates with the same goals for their partners, allowing cross-team collaboration to operate with ease."
Joe Gardella, of Sweetener Supply:"The increased interest in sustainable cannabinoid use in food manufacturing is clearly evident in the current marketplace. Supporting Cirona Labs in this round of funding was an easy decision for Sweetener Supply, as they have clearly shown their product solutions are the best available for any company looking for innovation with natural ingredients."