Alphagreen raises £1.1m in seed funding led by Enexis to expand into the US market.
The seed round was led by Enexis with participation from West Creek Investments and angel investors.
Alphagreen operates a leading online marketplace for CBD and alternative healthcare products alongside an ecommerce technology platform. The group connects brands with consumers while providing integrated digital services.
Alphagreen has secured £1.1m in seed financing from a syndicate including Enexis, West Creek Investments, and angel backers. The London-based online marketplace for alternative healthcare items will direct the capital towards launching new services and establishing operations in the United States. The transaction marks a notable fundraising milestone for the sector in Europe as demand for CBD products continues to expand.
From the founder
"At the moment the majority of turnover comes from commission fees, content creation, and display ads. This injection of funding will allow Alphagreen to launch and offer a new range of integrated e-commerce services incl. fulfillment, performance marketing, localisation, and data analytics to address specific problems faced by makers of CBD and alternative healthcare products, much in the way that The Hut Group operates."
Alexej Pikovsky
CEO at Alphagreen
Investor perspective
"Enexis is delighted to support the continued growth of Alphagreen. With its innovative solutions and strong technical abilities the company is uniquely positioned in the key CBD online marketplace segment"
Amaury De Poret
Enexis
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Categories
About the company
Alphagreen
Alphagreen operates a digital marketplace for CBD and alternative healthcare products.