California-based boutique cannabis brand Pure Beauty reported 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.”
“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 set 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 company said in a statement that the capital raised will support its 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.
It was founded in 2017 by entrepreneurs Imelda Walavalkar, Tracy Anderson, and Irwin Tobias Matutina. The company describes itself as 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. 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.
Michael Auerbach, the 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. “
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 is 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.