Green Goddess Supply, a “cultivation to consumption” cannabis technology lifestyle brand offering a line of high-quality products to grow, store, prep and consume hemp flower and cannabis products has launched a crowdfunding campaign. The company was initially funded by management and “friends and family.” With this offering, the company will gain access to over 750,000 investors via the StartEngine Regulation CF platform, to showcase its patented cannabis home grow system.
“We are incredibly excited to launch this initiative,” said Founder and CEO, Eric Robichaud. He continued, “What’s impressive to me is management’s ability to build, ship and deliver almost 600 systems during the global pandemic that has been riddled with supply chain obstacles and seemingly never ending “red tape” including, but not limited to, price gouging for Ocean Freight, new hidden costs such as “port congestion,” scarce and expensive domestic LTL shipping, supply chain and materials delays, and more.” The company has overcome these obstacles and is expanding The Armoire product line with new, higher-margin models ready for the 2022 holiday selling season. This capital raise will enable the company to continue to expand the product line, and scale sales and marketing.
Green Goddess Supply has built a catalog of cannabis-centric accessory products including storage boxes, rolling trays, grinders, pipes and more. The crown jewel in its product line is the critically acclaimed, award-winning personal home grow system sold and marketed as “The Armoire.” Now, with a U.S. patent in hand and rave reviews, the company believes The Armoire is ready for prime time.
Robichaud points out that The Armoire isn’t “just some idea” – it’s gone through R&D, prototyping, pre-production and into production. The company has built-out shipping and warehousing capabilities, internal and external systems and processes, and more. “It’s amazing to see the results of these Armoire units successfully deployed in homes across the country, which have been able to really help to change and improve lives! We’re now ready to scale up and bring it to the masses,” he said.
“We are part of a larger, DISRUPTIVE revolution: investing in private companies in red-hot sectors before they go public or are sold,” said Vincent Bitetti, inventor of The Armoire and Chief Cannabis Officer at Green Goddess Supply. “Under Reg CF, companies apply via a highly-regulated system, akin to going public. It all takes place through an SEC-registered intermediary, either a broker-dealer or a funding portal such as StartEngine.com.” These rules are relatively new—the SEC approved Reg CF in 2017. For the first time ever, this enables eligible companies to offer and sell securities through crowdfunding. And similarly, it allows individual investors to access pre-IPO businesses that were previously only accessible to accredited investors – typically via private placements as companies prepare to go public.