How 2 women entrepreneurs turned high tea parties into a booming cannabis business
, Kikoko’s distributor and supply chain partner, also participated in the raise, bringing Kikoko’s total funding to $14 million to date.It’s a rare feat for a woman-owned business, which according to Jones, only accounts for 2.2% of all venture capital raised in the United States.
“She was using cannabis to help with her symptoms of nausea, pain, appetite loss, mood, and anxiety; she was using it medicinally, but she was getting too high from all the products,” explained Jones. “Sadly, she died from the cancer, but it was her idea. She came to us and said, ‘Look, there really needs to be a brand that's for women … that’s marketed for women, that’s packaged for women, and isn’t as high in THC.’”...
“We started witnessing our friends starting to medicate a little bit more and being more reliant on Ambien, Xanax, and alcohol in a way that they weren’t before. That was really the big motivating factor … our own peer group,” Chapin said. The research and development of Kikoko went through three science teams over two-and-a-half years to determine the perfect balance between THC and CBD once the sachets were submerged in water. Products hit dispensary shelves in 2017, and range from three milligrams to ten milligrams paired with CBD or the lesser known cannabinoid CBN, lauded for its insomnia-relieving properties.
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