Newly launched CBD retailer Standard Dose has received an investment from LB Equity, an investment firm focused on emerging brands in the beauty and personal care sectors. Financial terms were not disclosed.
Founded by Anthony Saniger, Standard Dose offers a highly-curated selection of more than 60 non-psychoactive ingestible and topical items, including beauty and skin care products, as well as beverages and tinctures. Every product offered is made with industrial hemp that contains less than .3 percent THC, meeting the current legal standards. Current brand sold on the e-commerce site include Vertly, Dr. Kerklaan, Plant People and Khus + Khus.
This is the first investment in LBE’s recently established $50 million LB Equity Emerging Growth Fund, which was created with the goal of investing in brands focused on beauty, health and wellness, and sustainability, with an emphasis on emerging cannabis-based products and companies.
“LBE is targeting the massive opportunity available at the intersection of the rapidly growing cannabis industry and the many emerging brands within the skincare, beauty and related personal care sectors,” said Jay Lucas, Managing Partner of LB Equity. “With experienced executives from both the finance and beauty industries, LBE is perfectly positioned to leverage the transformational impact that these newly legalized cannabis-based products will have on the beauty industry.”
Hemp-based CBD compounds were made legal as part of the 2018 Farm Bill, but as some consumers may be wary about using the ingredient, Standard Dose has created content on its platform to provide education on all aspects of the CBD market. Some of the benefits of CBD are said to include relief from anxiety, pain, inflammation and sleep issues.
“Our goal at Standard Dose is to facilitate an honest conversation about CBD and to help consumers gain clarity of an industry that, until now, has been confusing and unregulated,” said Anthony Saniger, Founder and CEO of Standard Dose. “We take the time to vet all of our products and share information so that consumers can choose CBD products with confidence. With the very recent legalization of CBD, we know that interest in the industry and its products will skyrocket. Standard Dose will be the go-to source for anyone interested in elevating their lifestyle by tapping into the natural health benefits of CBD products.”