We got an exclusive look at the pitch deck luxury-edibles startup Hervé used to raise $3 million in a bid to become the ‘Dom Perignon’ of cannabis
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- Hervé, a cannabis-infused edibles maker, closed a $3 million funding round in May.
- Founder Sebastien Centner says he’s targeting cannabis consumers who want a unique, luxury product.
- See below for an exclusive look at the pitch deck Hervé used to close the round.
Cannabis-infused edibles are having a moment as much of the US digs itself out of the pandemic.
Edibles sales grew by more than 60% across seven state markets in 2020, according to data provider Headset. Edibles, particularly the lower dose varieties, are seen by many consumers as a healthier way to de-stress from long days working from home compared to smoking marijuana or drinking alcohol.
To capitalize on that trend, Hervé, a Toronto-based maker of what CEO and founder Sebastien Centner calls “luxury” infused edibles, closed a $3 million Series A funding round in May. Sol Global Investments led the round and private investors such as family offices and high net worth individuals also participated.
Centner declined to disclose the other investors to protect their privacy and the company declined to provide its valuation.
Centner says Hervé’s products, including lower dose, THC-infused macarons, are deliberately targeted toward higher-end consumers, rather than those that consume cannabis daily and may want more potent products.
“We add a different value proposition,” Centner said. “Our macaroons aren’t going to replace the smoking and vaping that someone’s doing on a regular basis”
His target market, Centner says, may choose to consume Hervé products when “they’re out with their girlfriends or they’re hosting a dinner.”
“It’s just like somebody who consumes a Jose Cuervo tequila because they like tequila soda,” Centner said. “They’re not going to drink 1942 every day, but they might do it for a special occasion when they really want a premium quality product.”
Check out Hervé’s Series A deck below:
Note: While the deck is posted in full, some financial information has been removed at Hervé’s request.