The investment by C4 Ventures will give Cannaray’s flagship wellness CBD brand access to a “high-reach upmarket TV audience” in the UK.
The European cannabis market is expected to grow from €403m in 2021 to reach €3.2bn by 2025. Due to the claimed medical benefits of CBD, the Advertising Standards Authority maintains that any ads that present CBD products as medicines or as having a medicinal effect require those products to be licensed as medicines.