BREVARD – Gaia Herbs Inc, a Brevard-headquartered certified B-Corporation that operates a 350-acre farm and sells herbal products through an e-commerce web portal, has raised nearly $5 million in funding, according to an SEC filing.
And more could be coming, as the disclosure notes a total offering amount of $10 million.
So far, four investors have planted $4,999,937 in the company, according to the disclosure, and the proceeds of the sale of equity will be used for working capital.
The company raised more than $40 million in equity in 2019, and at the time, WRAL TechWire reported it could be looking to raise more.
In 2016, the company raised nearly $21 million in a mixture of debt and equity, according to a prior SEC filing.
The company’s website states that the company “was a seedling in 1987” and reads “we knew then what many are coming to realize now—plants and people evolved together, that we are inextricably linked, and that plants hold the wisdom we need to heal.”
Expanded product line
Gaia Herbs Inc sells products that include ones made with turmeric, ashwagandha root, elderberries, and more, along with products like Calm A.S.A.P. and SleepThru, both of which are registered product names.
The company website also provides a “meet your herbs” tool which it describes as an “herb traceability tool to discover the origin of your herbs and see validation of your product’s quality.”
Through a spokesperson, the company declined to comment for this story to WRAL TechWire. There is no statement about the funding released by the company available through the firm’s website.
WRAL TechWire previously reported that the company became certified as a benefits corporation, or B Corporation, in November 2018.
The North Carolina Biotechnology Center has championed the company as a leading life science job creator within the western part of North Carolina, and the company invested in an expansion that began in 2016 and was reported as a total investment of about $5 million, following its $20.8 million fundraiser earlier that year.
