RALEIGH – Raleigh-based Altopa Inc. has raised $3.7 million for its company Oblend, according to a Securities and Exchange Commission filing.
Altopa filed the Form D on Jan. 2, stating the money was raised from 30 investors.
Altopa has developed a portable delivery device for mixing and dispensing botanical oils to create customized botanical oil blends for on-demand, single-use consumption.
The company, Oblend, strives to capitalize on the craze surrounding essential oils and their benefits of improving overall health and treating medical conditions.
The company was incorporated in 2016. Chief executive officer and founder of Altopa, Nicole Wicker, is a graduate from the UNC-Chapel Hill Kenan-Flagler Business School.
Private firms such as Altopa, Inc. relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
The form can be found online.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism