Trip: CBD drinks brand valued at £200m after Joe Jonas backing
Trip, a CBD drinks brand, has been valued at more than £200m after a fundraising round backed by the likes of singer and actor Joe Jonas.
The London-headquartered firm has raised a further £30.3m in a move which it said makes it the most valuable UK-founded drinks brand since Innocent and Fever-Tree.
The business has also said it is now world’s most valuable drinks company led by a female CEO and founder.
Trip was founded in 2019 by husband-and-wife team Daniel Khoury and Olivia Ferdi.
In a statement, Trip said its revenue has totalled more than £75.8m this year, which is expected to rise to over £151m next year.
The company has also said it is profitable, but has not provided any figures.
Along with Joe Jonas, the funding around was backed by model Alessandra Ambrosio, actor Paul Wesley, model Ashley Graham and internet personality Sophie Haboo.
Coefficient Capital, which has previously backed Oatly, also took part.
Ferdi said: “We created Trip to make calm accessible to everyone, everywhere.
“The response from our consumers and retailers is proof that the world is ready for a new way to drink – one that prioritises balance and mental wellbeing.
“I’m proud that Trip is not just breaking records, but breaking barriers for female-founded and mission-driven businesses worldwide, and this funding will help us move faster than ever before.”
Trip drinks advert banned
The fundraising round comes after an advert for Trip was banned for making unauthorised claims that it can “help you feel calm”.
The advert also claimed it could reduce stress and anxiety.
According to the Advertising Standards Authority (ASA), this was not in line with rules on marketing food or drink ingredients as having health benefits.
At the time, the company said it had removed the claims while it awaited external advice but hoped to be in a position to make the claims in the future.
According to its most recently filed accounts, Trip had shareholder funds of £4.7m at 28 February, 2024, a rise from £4m in the prior 12 months.
The results for its latest financial year are due to be filed with Companies House by the end of February 2026.
In July, CityAM reported that Goodrays, a CBD brand backed by Vernon Kay and Tess Daly, had raised £5m.
The company was backed by Guinness Ventures whose portfolio includes BBC Maestro, a celebrity-led e-learning business.
The series A funding round also attracted the participation of existing and new institutional investors.