Voyager was founded by Nick Tulloch and incorporated in November 2020 as a health and wellness business focused on CBD and hemp seed oil products. Nick was previously CEO of Zoetic International plc, overseeing that company becoming the first CBD company to be quoted on the London Stock Exchange. Voyager was established with the intent of building a trusted brand in the UK CBD industry, offering a range of high quality products at fair prices.
Shortly after incorporation, the Company raised approximately £500,000 which enabled it to accelerate its business plan including hiring its first employee and establishing an office. These funds also supported further product development and by February 2021 Voyager had 16 products available for sale. That month the Company became the first multi-product CBD company to complete a crowdfunding campaign in the UK, raising £874,000 on Seedrs in a transaction that was almost five times subscribed and closing after just five days.
Voyager applied for and received advance assurance from HMRC in December 2020 that its ordinary shares qualify for EIS relief and, consequently, EIS relief applied to the crowdfunding campaign and will also be available to future investors in the Company (subject to the Company’s ongoing compliance with the relevant criteria).
The Directors believe that a significant opportunity exists in CBD due to the expected growth of the market combined with the disparity in the quality and consistency of products currently on the market and impending and ongoing regulatory changes. As CBD becomes more mainstream, the Directors believe that a strictly regulatory compliant, and therefore trusted, company that produces high quality products could excel in this exciting market.
Voyager was established on three key principles
1. Compliance with existing and future regulations
With its origins in the cannabis plant, it is understandable that CBD gets a high level of scrutiny. Furthermore, to date, barriers to entry to this industry have been low and there have been instances reported of products either not being compliant with applicable rules or being sold with inaccurate labelling.
Voyager’s philosophy is to become a trusted brand within the growing CBD market. We recognise that is a medium to long-term aspiration but we believe that the market will rightly continue to attract the attention of regulators and, in time, enforcement. The opportunity for professionally managed CBD businesses could be significant in the coming years.
Voyager is committed to providing full details of its products on both its sales website and product labels, with each containing a full list of ingredients and any allergens. The Company’s staff are available on phone and email to discuss any questions that customers may have.
2. High quality product range that is THC-free
Compliance with regulations is not in itself a business model and equally core to Voyager’s principles is to supply high quality products to both attract and retain customers. Accordingly, we spend considerable time on product development using, aside from CBD, well recognised and popular ingredients in many of its products.
Voyager is also committed to its product range being free of THC, the substance in cannabis plants that can produce a psychoactive effect. The Company believes that many current users, and prospective users, of CBD do so for its perceived health and wellness benefits and do not necessarily want any impairment that may come from consuming THC. As a matter of course, Voyager displays laboratory reports for all of its CBD products on its sales website.
3. Low-cost operating model
Notwithstanding the projected growth in the CBD market, both in the UK and overseas, we recognise that this remains a crowded and fragmented market. Voyager’s objective is to build a brand, or portfolio of brands, with long term potential. In the meantime, we are committed to keeping a tight rein on the Company’s overheads. Our objective is to provide our customers with fairly priced products whilst maintaining a return for our investors.
Voyager’s products are currently available on over 20 third party websites as well as our own sales website. Our products are typically vegan, gluten-free and free from allergens. Where possible, the Company uses only natural fragrances and colours and seeks to use recyclable or biodegradable packaging.
The Company offers CBD oils in three strengths of 500mg, 1,500mg and 3,000mg. Its natural flavour is available in all strengths, peppermint in 500mg and 1,500mg and blood orange flavour in 500mg. All Voyager CBD oils are supplied in 30ml amber glass bottles and are made in the USA.
Voyager’s CBD gummies are made with natural flavouring and each jar of 30 gummies is a combination of four flavours: Raspberry, Strawberry, Lemon-lime and Mango. The gummies are gluten-free, allergen-free and suitable for vegans. They are supplied in a child-proof white plastic jar. As with all of Voyager’s oral products, they are entirely free of THC and have no unpleasant hemp aftertaste.
Muscles and joints
Research has shown that CBD has anti- inflammatory properties and, consequently, CBD products have grown in popularity for use following sports or other active pursuits. Voyager’s Rosemary and Mint CBD Muscle Salve was one of its first products and this will shortly be supplemented by a 800mg Menthol and Camphor CBD Cooling Cream.
In the UK, CBD should not be given to animals unless approved by a vet. Consequently, Voyager does not sell CBD products for pets but has created a range of hemp seed oil products which are not covered by the above restriction. Voyager’s hemp seed oil for pets has been one of its best-selling products since inception and the Company’s pet range will shortly be expanded to include a paw balm, also made from hemp seed oil and created to a vegan formulation.
Voyager recognises research that has evidenced that benefits of the hemp plant extend beyond CBD and other cannabinoids. Part of its range therefore includes products formulated from hemp seeds, a part of the plant which is generally considered to be CBD free. Hemp seed oil is known for its nutritional and moisturising properties and Voyager’s range includes a hand cream, lip balm and beard balm. However, Voyager’s skincare range is not exclusively focused on hemp seed oil and the Company is working on new formulations for products that will contain CBD.
A core part of Voyager’s range is based on the “luxury at home” concept and, in particular, bath care. Branded as Voyager Life, this range includes bath blocks, soaps, Himalayan bath salts and Himalayan salt body scrubs. This range has been developed in accordance with environmentally friendly and sustainability principles using biodegradable or recyclable packaging. The bath blocks, for example, are wrapped in cellulose which can be composted. The range also is entirely free from any artificial colours or fragrances by using essential oils. This also creates certain stand out aspects to Voyager Life – its lavender bath blocks, for example, are not purple.