LAS VEGAS — Hervé, maker of luxury French-inspired and cannabis-infused desserts, today announced the successful close of its oversubscribed $3M Series A round of funding. This raise will accelerate Hervé’s growth and support new opportunities across the rapidly growing cannabis industry.
Since its launch in February 2020, Hervé has created an entirely new category of edibles for the discerning cannabis consumer. In Nevada, dispensaries welcomed Hervé as a refreshing new category in the market that addressed the growing demand for higher quality cannabis products. Their portfolio launch included three exquisitely flavored gluten-free French macarons which outsold all premium edibles in the market and commanded retail prices on average two to three times higher than competing products. Strong demand for additional flavors resulted in Hervé expanding the portfolio with two new flavors in mid-2020.
Following its macarons, Hervé launched its ‘Le Mirage’ collection of four gluten-free and vegan hard candies. Le Mirage candies are completely free of processed sugar, feature all-natural ingredients, offer sublingual faster-onset and boast less than 2 calories per serving. Flavors include menthe (peppermint), pêche (sour peach), pomme verte (sour green apple) and cerise (cherry). The Le Mirage collection features a patent-pending dispensing system that enables discrete consumption for any occasion.
Having established itself as the leader in luxury cannabis products, Hervé is now focused on expanding their winning formula to other markets. With the additional capital, Hervé will launch in two new cannabis markets before the end of 2021 and expand into three additional markets in 2022. The funding will also be used to add both new flavors of existing products and new products altogether to Hervé’s product portfolio.
“While we originally set out to create a new category of cannabis edibles, we never expected that we would already be introducing new products and planning our expansion within a year of launch,” said Sebastien Centner, Founder and President of Hervé. “We are thrilled about where the next two years will take us as Hervé becomes a household name available in markets across the US and recognized as the benchmark for luxury cannabis products.”
The Series A round was completed with existing and new investors participating, along with a new investment by SOL Global Investment Corp. In addition to its investment, SOL Global will be providing Hervé with strategic support through its vast network to help bring the Hervé brand to more markets and more outlets.
“With cannabis markets maturing we’re seeing increased value in premium brands that dominate their category. The track record for the launch of Hervé in Nevada speaks for itself in creating a new ultra-premium offering.” said SOL Global’s Chairman and CEO, Andy DeFrancesco. “We continue to invest in strong management teams that see the importance of innovation as the foundation for growth. Hervé represents all these things to us and we are excited about the company’s direction.”
In addition to its line of hand-crafted macarons and ‘Le Mirage’ sublingual hard-candies, Hervé is developing a series of effect-based cannabis products tailored to the growing national CBD market while planning to add more products to its portfolios over the coming months.
Founded in the classic art of patisserie creation, Hervé – launched by two French men – Sébastien and Frédéric – produces exquisite macarons, candies, desserts, and chocolates that combine contemporary design with spectacular flavors. Hervé proudly blends together decades of traditional French culinary history with an innovative infusion process, to launch the first intricately infused luxury desserts for the discerning cannabis consumer. For more info, please visit https://hervedibles.com/