SEED Innovations Ltd (AIM:SEED) has invested a further £150,000 in London-based South West Brands Limited which aims to become a multi-brand consumer goods group in the CBD industry.
It invested through the purchase of a 12-month 8% Convertible Loan Note which was issued as part of a new funding round that raised a total of £300,000.
Seed also highlighted progress at SWB which recently launched the LoveMeMeMe and FEWE brands, which are respectively an all vegan and cruelty free self-care products brand CBD and a female health brand.
"South West Brands have made considerable progress since our last investment with the successful launches of two consumer brands which, from what I have seen, have received a very positive reception from users to date,” said Seed chief executive Ed McDermot.
“These first brand launches, which are generating SWB's early revenues, are testament to the hard work Rebekah Hall and her team have put in, and I am pleased SEED are able to support SWB in their growth and I look forward to further advances by the team in their quest to grow a credible, sustainable and scalable consumer CBD business."
SWB is led by Rebekah Hall. It has an all-female management team in London and it was established to monetise the 'last mile' of the cannabis supply chain, bringing branded products to customers.