FounderCatalyst Helps Little Rick Secure 6-Figure Seed Investment to Drive US Expansion and Strengthen UK Market
Investors in this round: FounderCatalyst
Little Rick, a rapidly emerging force in the hemp beverage industry, has secured a significant seed investment poised to fuel its expansion into the US market and bolster its presence in the UK. This pivotal investment comes from Ian Page, the former CEO of Dechra Pharmaceuticals and one of the UK’s longest serving CEOs, who guided the company over 23 years from small cap to the FTSE 100 before recently overseeing the sale of the business for £4.5 billion. Page’s deep industry expertise and strategic vision are expected to play a crucial role in Little Rick’s trajectory.
Co-founded by Norman Kremer and Vas Kottas Bonel, Little Rick has already made a considerable impact in the UK with its range of hemp-infused beverages designed for relaxation and wellness. The brand’s dedication to high-quality, natural ingredients has cultivated a loyal customer base, laying the foundation for significant growth. Little Rick’s UK range is particularly notable for being the only full-spectrum option available, offering the highest strength and highest rated CBD drinks in the market.
Norman expressed his enthusiasm about the investment, stating, “We’ve always believed in the potential of our products, and this investment will allow us to bring them to a much broader audience, particularly in the US. It’s an opportunity to build on our UK success and take it to the next level. We’re eager to embrace the opportunities ahead and make a lasting impact in new markets.”
Sam Simpson, co-founder and CEO of FounderCatalyst commented, “Norman and Vasilios executed their funding round with pace using the FounderCatalyst platform for a fixed £1,495 fee. They have set-up their funding round legals to allow an agile (‘rolling close’) round to accept ongoing funding over the next year or so.”
Vasilios added, “This investment marks an exciting new chapter for Little Rick. With Ian’s experience guiding us, we’re well-positioned to expand into the US and grow our brand. His insights will be invaluable as we scale our operations and reach new customers who are looking for natural, full-spectrum hemp products.”
The US expansion will also introduce a new range of beverages containing 5mg of federally legal, hemp-derived THC and 10mg of CBD. This addition allows Little Rick to offer a more diverse product line, catering to the growing demand for THC-infused drinks in the US, while maintaining its commitment to quality and effectiveness.
The investment will enable Little Rick to accelerate its US expansion, focusing on establishing distribution networks and enhancing marketing efforts. Simultaneously, the company plans to continue its growth in the UK by expanding its product range and reaching a broader consumer base.
With Page’s backing, Little Rick is set to take a major leap forward, aiming to establish itself as a leading name in the global hemp beverage market. The investment not only supports Little Rick’s ambitious expansion plans but also positions the company for sustained success in new markets.
