London based CBD company Alphagreen has announced that it has secured £1.1m of seed funding to help its expansion into the US.

Alphagreen, which is a marketplace for CBD and alternative healthcare products, will use the funding for the roll out of new products and services alongside its expansion into the US.

Participants in the seed round included Stockholm-based Enexis AB, US cannabis fund West Creek Investments and several angel investors.

Alphagreen

Alphagreen’s revenue model is based on offering companies listing products on its platform as well as offering these companies end-to-end e-commerce technology services like translation services, SEO consulting and other marketing support.

This funding will help Alphagreen grow in the US and this comes at an important time since US brands are looking for growth opportunities in the UK and Europe and Alphagreen could provide them with a strong platform to scale in these regions.

Alexej Pikovsky who is co-founder and CEO of Alphagreen commented on the funding: “The funding allows us to set up a new service in the US, the world’s biggest CBD market. We’ll establish and run a bespoke platform for American consumers looking to buy products as well as help leading US brands such as Charlotte’s Web enter Europe and list their products on our site”

Source: www.eu-startups.com

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