INSUBCONTINENT EXCLUSIVE:
cannabinoid-based treatments for their conditions (without worrying about potentially getting dosed with some THC) can now turn to beam.The
hemp plants without any of the psychoactive ingredients that are found in tetrahydrocannabinol.Matt Lombardi, a former minor league hockey
player and serial entrepreneur, and Kevin Moran, who played baseball in the minors before taking an enterprise software sales job, launched
the company back in 2018.The longtime athletes both were intrigued by cannabis-based treatments and their possibility as an alternative to
the chemically derived pain relievers and anti-inflammatories that could have severe side effects or result in addiction
But they also wanted products that would not be tainted with the psychoactive ingredient in marijuana that could cause problems for users in
certain states.So they developed a product set by working with multiple independent laboratories to ensure their products were free of
leads, heavy metals and pesticides, the company said
That devotion to purity has led the company to sign agreements with fitness pros like Mat Fraser, Brooke Wells, Tia-Clair Toomey and Mikaela
for anywhere from $60 to $140; a cannabinoid-infused salve that retails for $60; and protein bars with cannabinoid powders, which cost
cannabinoids have been surging in the market recently
also managed to land some venture capital backing to pursue its vision as Obvious Ventures came in to lead a $5 million seed round into the
The firm was an investor in Beyond Meat, whose launch has transformed the market for plant-based meat substitutes.Joaquin sees another
successful recent exit, from the portfolio company Olly, as the closest parallel to the thesis behind beam
amount earlier this year.With the money in hand, beam is now thinking about the next phase of product development, which will be the launch
The company intends to roll out additional functional products over time, says Lombardi.
