Drippy - A New Cannabis Infused Beverage - Announces Private Placement up to $1MM for Expansion of Beverage Platform
Los Angeles, California--(Newsfile Corp. - February 8, 2023) - Drippy Enterprises Inc. ("Drippy", "Drippy Soda" or "The Company"), a cannabis-infused beverage company, announces that it aims to raise up to $1,000,000 USD for the purpose of growing its cannabis-infused soda lines, expanding distribution channels and increasing product inventories to meet the growing demand for cannabis beverages. Drippy is an innovative cannabis company dedicated to providing an elevated experience for the legacy cannabis consumer.
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Beverages makes up only a small percentage of the overall cannabis market today but is expect the grow rapidly over the coming years. According to Fortune Business Insights, the cannabis beverage market is expected to grow at a compound annual growth rate of 54.31% to reach $7.9 billion in 2026.
The Company previously completed a $500k seed round, with support from notable initial investors, solidifying its reputation as a premium product in the market. The upcoming financing round will fund the following strategic business initiatives:
- New product line expansion for 100mg THC offering
- Increased statewide distribution
- Sales Team expansion
- Marketing initiatives
"We are excited to announce the next round of future financing, which marks a significant milestone for Drippy and will allow us to begin scaling with speed," said Alleh Lindquist Co-Founder of Drippy. "We believe that Drippy will drive beverage adoption amongst the legacy cannabis consumer and we are confident that beverage is going to be a leading cannabis product category in the future."
Drippy is a Los Angeles-based company that creates cannabis-infused beverages, clothing and accessories. The Company is made of experienced beverage and cannabis industry professionals dedicated to providing consumers with high-quality products and delivering enjoyable ways to consume cannabis.
Creativity and innovation are core values to Drippy. The Company believes that music and art have the power to connect people, and has built a brand to reflect that. By fostering a community of creatives, Drippy creates truly unique and innovative functional products that uplevel any experience.
Drippy is committed to using cutting-edge technology to stand apart from other cannabis brands. Through the use of immersive and engaging digital experiences - Drippy has already moved into the forefront of cannabis culture. These expressions will grow and evolve as the community expands, giving consumers the tools to empower themselves and express their individuality in the real world and beyond.
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