This Latest Investment Round Is Led By Gron Ventures, Subversive Capital, Ceres Group Holdings
LOS ANGELES, July 15, 2021 /PRNewswire/ -- Pure Beauty, the California-based boutique cannabis brand that combines art, culture and style with sustainable and social justice practices, today announced that it has successfully raised $5 million in convertible note fundraising from a consortium of investors led by Gron Ventures, Subversive Capital, Ceres Group Holdings, and notable celebrities including Timbaland, Nas and director Tom Kuntz, among others.
"Our mission is to bring distinct and elevated products to market while being mindful of the social and environmental implications intrinsic to cannabis," said Imelda Walavalkar, CEO of Pure Beauty. "Fundraising allows us to further build out our capabilities and product offerings while retaining the integrity of our core values."
Michael Auerbach, founder of Subversive Capital and a leading cannabis investor, said "Pure Beauty is one of the most innovative and intimate brands to emerge within the California cannabis market. We believe in the founders Imelda, Tracy, and Irwin's mission to completely redefine the brand landscape in this category, with a focus on a consistent product, a heightened user experience, unique product offerings and authentic engagement with both legacy and new users. To put it simply, Pure Beauty truly is pure beauty." "Pure Beauty is rich, and I don't mean it's for rich people," said Timbaland, brand investor and advisor. "It is universal – it hits from all sides creatively. The flower is beautiful and it helps my creative process. The brand's vision and outlook on sustainability sets it apart. Pure Beauty's cultural openness and ability to reach so many different people is key to destigmatizing the plant. Defeating the stigma is important to me not, just as an artist, but because of its role in the ongoing war on drugs."
The funds will support the brand's expansion into new markets, as well as building out the product development team to further support growing customer demand. Pure Beauty will expand into its first market outside of California this fall in partnership with Gage Growth Corp, a leading high-quality premium cannabis brand and operator in Michigan.
ABOUT PURE BEAUTY
Founded in 2017 by entrepreneurs Imelda Walavalkar, Tracy Anderson and Irwin Tobias Matutina, Pure Beauty is a boutique cannabis lifestyle brand that represents a movement to create an inclusive, potent community that emphasizes – and always seeks to advance – high-quality products, creative culture, sustainable practices and social justice initiatives within the green space.
Since its inception, Pure Beauty has been committed to environmental responsibility within its cultivation sites, as the company enforces the reprocessing of water using HVAC and dehumidifiers, the donation of soil to public parks and the use of environmentally conscious packaging to minimize waste.
The brand's dedication to art and style, environmental stewardship and societal equity informs the development of each of its products. Pure Beauty offers high-grade flower (in multiple strains), pre-rolled joints (including miniaturized "Babies"), pre-rolled cannabis cigarettes and a 100-milligram beverage called Little Strong Drink. Pure Beauty's products are available for purchase throughout California.
The Pure Beauty Drugstore, an ecommerce platform that expands the brand beyond cannabis into a lifestyle, houses a highly curated selection of merchandise within the brand's major cultural pillars of art, music, furniture, apparel and accessories.
Learn more at purebeautypurebeauty.co.
SOURCE Pure Beauty