Willie’s Remedy+, the THC-infused drinks brand backed by US music legend Willie Nelson, has secured funds to try to “accelerate” its distribution in US retailers.
The $15m funding was raised in a Series A round led by VC firm Left Lane Capital, according to a statement yesterday (5 February).
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Second Sight Ventures, another US VC fund, also participated in the round.
The broader hemp-derived THC drinks market faces tightened controls, with a funding bill passed by the US Congress and signed by President Trump in November narrowing the legal definition of hemp.
Under the new law, “hemp-derived cannabinoid products” with THC content exceeding 0.3% will no longer be permitted for sale, nor will any “final” hemp-based cannabinoid goods with more than 0.4mg of THC per container.
It also prohibits “any other cannabinoids that have similar effects (or are marketed to have similar effects)”.
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By GlobalDataIndustry coalition The US Hemp Roundtable has warned the measure could force more than 95% of hemp-extract products off the market. The clause takes effect on 13 November.
Willie’s Remedy+ positions its products as a “modern” alternative to alcohol.
The drinks are made with hemp-derived cannabinoids, blended with CBD, CBG, and L-theanine.
Nelson has called on lawmakers to dismiss prohibition at the federal level.
“Banning hemp won’t solve problems. Smart regulation will,” he said.
Willie’s Remedy+ is still pressing ahead with its plans for growth.
After what the company describes as a successful limited test with US retailer Total Wine, the brand is gearing up for a national retail rollout early this year.
The Willie’s Remedy+ portfolio includes 750ml THC-infused alternatives to spirits, 12oz THC-infused seltzers and two-ounce THC-infused shots.
Stockists signed up include Total Wine, Binny’s Beverage Depot and TXB.
US drinks group JuneShine Brands is providing sales, marketing, and distribution support.
Greg Serrao, the co-founder and CEO of JuneShine Brands, said: “We’re confident our strong online brand awareness will translate to serious velocities on shelf. Over time, retail will become our primary growth engine.”
