Sproutly (SPR.C) is making an entrance into the burgeoning cannabis-infused functional beverage scene with its newly-developed line of cutting-edge cannabis drinks.
In the US alone, Canaccord estimates that by 2020 the CBD and THC-infused beverage markets could be valued at $260 and $340 million, respectively.
These drinks are made possible through Sproutly’s acquisitions of water-soluble cannabis technology. In August, Sproutly acquired Infusion Biosciences. It is their proprietary technology, Infuz2O, which is capable of delivering rapid onset water soluble cannabinoids in drink form