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).
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)”.
Industry 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."
