Beam

Direct-to-consumer wellness brand beam has raised $5 million in a Series A financing round, the company announced today. This month, beam made its first expansion outside of the CBD space with the launch of Elevate, a line of powdered hydration drinks packaged in single-serve sticks.

CrossFit saw several of its food and beverage brand partners end their affiliation with the fitness brand over the last 24 hours in response to a tweet by founder and CEO Greg Glassman about racism and public health.

In response to the death of George Floyd, some of the country’s largest food and beverage companies, as well as a large group of entrepreneurs and emerging brands, have offered statements of support, financial donations to advocacy groups and commitments to open a dialogue about racial justice in America.

The past few weeks have seen multiple investments in the red hot CBD space from existing CPG investment firms, as well as deal news in other trending categories such as alternative protein and the frozen food aisle.