LGBTQ-Founded Cannabis Co. Raises $6.7M To Expand In Edibles World

The Bettering Company, a Chicago-based luxury cannabis edibles brand, has closed a $6.7 million financing round, accumulating more than $11 million in total funding since its inception. This financial feat is noteworthy in the face of the nationwide challenging market conditions.

Founded by Mark Cozzi and Drake Nickell, The Bettering Company has captured the interest of prominent early-stage consumer packaged goods investors, notably including Peter Rahal. This significant funding will cater to the construction of a state-of-the-art production facility in Rockford, Illinois, and the expansion of the brand's management team.

Commenting on the brand's aspiration, CEO Mark Cozzi remarked, “Despite a decade of legalization, the cannabis market lacks a truly luxury option. Our mission has been to make every step better in the process. We cannot wait for the world to experience the difference.”

In a market where Americans shelled out an estimated $30 billion on legal marijuana products in 2022, The Bettering Company differentiates itself with chef-crafted, vegan, and gluten-free gummies. Prioritizing sustainability, its packaging employs 35% post-recycled material, while ensuring each gummy is individually wrapped for optimum functionality.

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Operating from a 10,000-square-foot facility - among the largest solely dedicated to edibles production in the U.S., The Bettering Company's primary objective is to deliver consistently infused edibles, addressing a longstanding challenge in the cannabis sector.

Investor Peter Rahal commended the brand's approach, stating, "The Bettering Company is creating edibles 2.0 by taking familiar products and improving on key aspects such as flavor, consistency, and packaging.”

With a core mission of delivering luxury cannabis edibles, the company's vision is holistic, underpinned by health, social responsibility, and environmental consciousness. Emphasizing inclusivity, it stands out as an LGBTQ+-founded and employee-owned entity in the cannabis industry. Looking ahead, consumers can expect The Bettering Company’s products in Illinois dispensaries by fall 2023, with expansion plans for New Jersey and New York.

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