Bettering Co. is a cutting-edge start-up redefining the edibles market with premium THC-infused treats. Their mission is to provide gourmet edibles prioritizing safety, consistency, and naturally sourced ingredients.
Bettering Co., a cutting-edge start-up company, is making waves in the world of premium edibles. Despite the slow pace of legal store openings in New York, co-founder Mark Cozzi remains determined to establish their presence in the industry.
A Patient Approach:
Cozzi's philosophy can be summed up by his famous quote, "I am a tortoise and not a hare." In an industry where many hurry to make a profit, Cozzi embraces a more patient approach, prioritizing quality above all else.
Expanding Horizons:
New York will become the third state targeted by Bettering Co., following successful operations in Illinois. Additionally, plans are underway to launch their premium edibles in New Jersey in the near future.
The Journey Begins:
Having dedicated himself to the company full-time for the past four and a half years, Cozzi brings a wealth of experience. His background in private equity and banking, particularly in the energy and telecom sectors, prepared him for this entrepreneurial endeavor.
Gourmet Delights with a Purpose:
The inspiration for Bettering Co. can be traced back to 2016 when Cozzi engaged in thought-provoking discussions with an oncologist. Their conversations revolved around the potential health benefits of THC-infused edibles compared to alcohol. Recognizing the inconsistencies and potential health risks posed by existing edible options, Cozzi founded Bettering Co. Their mission? To provide gourmet edibles that prioritize safety, consistency, and naturally sourced ingredients.
A Sweet Selection:
Bettering Co.'s range currently includes six varieties of gummies, each carefully crafted with precision. These delectable treats are available in an ever-expanding number of dispensaries, stretching to a total count of 33 and counting. With a dedicated team of 20 professionals, including a fully operational kitchen in Rockford, Illinois, Bettering Co. is committed to delivering the finest edibles with every bite.
Innovative Leadership:
Dr. Neil Iyengar, the oncologist who played a pivotal role in the initial discussions, is now the medical chief at Bettering Co., as well as an equity owner. This esteemed doctor adds a wealth of expertise to the team's collective knowledge.
Building Success:
Bettering Co. has successfully secured three rounds of investment, amounting to an impressive $11 million in funding. Leading the charge is Peter Rahal, the managing director of Litani Ventures and co-founder of RXBar. Rahal's entrepreneurial prowess was evident when he sold RXBar to Kellogg for a staggering $600 million in 2017. In addition to Rahal, two venture-capital investors, who prefer to remain anonymous, have also embraced the vision of Bettering Co.
In a world saturated with subpar edibles, Bettering Co. stands out as an exemplar of excellence. Their commitment to delivering exceptional products, coupled with their dedication to safety and innovation, sets them apart as pioneers in the edibles market. As Bettering Co. forges ahead, one thing remains clear—this is just the beginning of their journey toward elevating the cannabis experience for consumers nationwide.
Cannabis companies that have served as inspirations include Cann beverages and Mindy’s Edibles, according to Cozzi. He also admires Grey Goose vodka for its impact on the premium spirits business.
The Bettering Co. takes pride in its high-quality edibles, which are distinguishable from mass-produced gummies. Unlike their sugary counterparts, these gummies are not coated in sugar crystals. Furthermore, the company uses no artificial ingredients in their production. The gummies are vegan and gluten-free, incorporating unique ingredients like blood-orange concentrate from South America and fig paste from Croatia. With the sleep-enhancing gummies, they use CBN, a legal ingredient in cannabis and hemp.
The suggested price for the company’s gummies is $36 per package, which contains either 2.5 milligrams or 5 milligrams of THC per piece, totaling 100 milligrams. This premium price point reflects the high quality and uniqueness of the product.
The Bettering Co. has obtained a conditional manufacturing license in New Jersey, enabling them to produce edibles. They plan to start selling in the Garden State in 2024. Additionally, they are applying for manufacturing and transportation licenses in New York. Exploring opportunities for growth, the company is also considering purchasing a license in New York. Cozzi emphasized that this idea is in the very early stages of exploration. Over the next five years, the Bettering Co. envisions expanding its business in New York, New Jersey, Illinois, and possibly Ohio, where recreational marijuana was recently legalized.
Despite the slow licensing process in New York, the state offers a promising long-term opportunity in the cannabis industry due to its potential as one of the largest markets in the country. Cozzi expressed confidence that those who are patient and adept at navigating the challenges will ultimately find success.
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