SANTA FE, N.M. — Trait is pleased to announce that it has closed on a funding round led by Btomorrow Ventures (the corporate venture capital arm of BAT) and Gotham Green Partners. Both firms are already significant investors in Trait, and they have been closely involved in the company’s development and commercialization efforts.
Hanny Kanafani, President and COO at Trait says: “The collaboration between Btomorrow Ventures and Gotham Green Partners has been a powerful catalyst in advancing Trait’s development and commercialization activities. This financing will further the launch of unique first-generation cannabinoids, which when added to waters and other beverages, maintain beverage clarity and do not impart turbidity, even when added at competitive dosages. When added into cosmetic applications, our water-soluble materials do not require additives typically used in skincare products to maintain quality, and we will open the door for unique and differentiated infused cosmetic applications.”
The financing will support Trait’s partnerships with contract manufacturers and go-to-market partners, and Trait expects a 1Q 2024 launch of its first-generation water-soluble CBD.
To learn more about Trait’s technology and product offerings, please visit traitbio.com.
