# Open Book Extracts

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/open-book-extracts

- Industry: Consumer Products
- Headquarters: Roxboro, US
- Website: www.openbookextracts.com
- Total disclosed funding: $12M
- Latest round: Series C (Apr 6, 2022)
- Investors on record: 3

## About

Based in the US, Open Book Extracts specializes in producing high-quality hemp-derived cannabinoid ingredients for the health and wellness industry, offering innovative solutions for brands worldwide.Open Book Extracts was founded in 2019 and is headquartered in Roxboro, US. The company focuses on manufacturing cannabinoid ingredients and has raised a total of USD 11.50 mn across two funding rounds, with the most recent being a Series B round in April 2022, led by KEY Investment Partners and NorthCapital. The founder, David Neundorfer, previously co-founded other ventures in the industry, contributing to the company’s growth and expertise.Open Book Extracts specializes in producing high-quality hemp-derived cannabinoid ingredients tailored for various applications across the health and wellness industry. The company’s core offerings include a range of cannabinoid isolates and distillates, which are utilized to create custom formulations for brands focused on innovative, research-backed products. These ingredients meet diverse consumer needs, including wellness formulations, dietary supplements, and other therapeutic applications, serving over 900 clients in more than 17 countries, including the United States, Canada, and several European nations.Open Book Extracts generates revenue through a business-to-business (B2B) model, supplying high-quality cannabinoid ingredients to various brands and manufacturers. Clients engage in direct transactions for specific cannabinoid formulations based on their unique product requirements. The company’s competitive pricing reflects the premium nature of its products and the science-led innovation behind its formulations, often involving bulk purchases of cannabinoid isolates and distillates for clients to produce their own branded products.In April 2022, Open Book Extracts raised USD 11.50 mn in a Series C funding round, co-led by KEY Investment Partners and Btomorrow Ventures. The company plans to utilize this funding to expand its finished goods manufacturing capabilities, support ongoing research studies, and accelerate international distribution opportunities. Open Book Extracts is focused on launching new product lines to enhance its market presence and is actively exploring expansion into additional geographic regions to further reach its target clients.

## Funding rounds

- Series C, Apr 6, 2022 — KEY Investment Partners, Btomorrow Ventures
- Series B, Jun 2, 2021, $12M — KEY Investment Partners, NorthCapital

## Investors

- KEY Investment Partners (https://capitalatlas.ai/funds/key-investment-partners) — Series B, Series C
- NorthCapital — Series B
- Btomorrow Ventures (https://capitalatlas.ai/funds/btomorrow-ventures) — Series C