Looking into the Cannabis Crystal Ball for 2024🔮 Approaching the end of 2023, global legalization is…
Azuca Announces First-Ever Social Equity Fellow: ButACake CEO Matha Figaro
Cannabis Ingredient Company Joins Forces with Industry Rising Star to Foster Innovation and Entrepreneurship in the Cannabis Industry
—Partnership to Expand with CannPowerment in 2024—
NEW YORK (January 9, 2024)–Azuca, known for its advanced formulations, is proud to announce the launch of its new Social Equity Program aimed at empowering social equity entrepreneurs and micro license holders. The program’s inaugural fellow is Matha Figaro, CEO of ButACake, a pioneering edibles brand, who recently brought a new infused product Hibiscus Elixir, utilizing Azuca’s new RTD ACTiVATOR® (“Ready to Drink”) designed for cannabis beverages, to market.
“Azuca’s new social equity program aims to create a level playing field in cannabis and support deserving entrepreneurs in their innovation efforts,” said Kim Sanchez Rael, CEO, Azuca. “We recognize the challenges faced by social equity and new micro license holders, and we’re committed to providing the tools they need to survive, and thrive. We couldn’t have found a better partner in Matha. She’s a rock star helping us work towards building a more inclusive and equitable industry.”
As part of the fellowship, Azuca has worked with Figaro and her team to ensure a competitive edge in the market through ingredient and formulation support, advisory access and overarching opportunity to scale her business and boost sales. Among ButACake’s recent success in the edibles space:
- Reached 16,500 patients in Delaware since launching in July
- Sold over 5,000 units in Delaware––all powered by Azuca’s TiME INFUSION®––from May to September 2023
- Besides Delaware’s medical market, ButACake made its long-awaited debut in New Jersey in December 2023—marking the first independent operator in New Jersey to bring an edible product to stores, and the first minority and women-owned business owner to do so.
- Through CannPowerment, ButACake is also able to partner with cannabis manufacturers nationwide, allowing minority and women-owned businesses to make quality cannabis ingestibles accessible to a broader audience
The partnership is set to evolve with CannPowerment in 2024 and this expansion will enable ButACake, under Figaro’s leadership, to collaborate with cannabis manufacturers nationwide, aiding minority and women-owned businesses in making quality cannabis ingestibles more accessible.
“Partnering with Azuca has allowed us to bring our vision to life. Not only have I received valuable support and mentorship, but I had the opportunity to bring new and truly special products to market,” said Matha Figaro, CEO, ButACake. “Although the journey from legacy to legal hasn’t been easy, I’m grateful to collaborate with the female-led team at Azuca, who share similar values and vision to make cannabis edibles accessible and approachable. We are just scratching the surface. With CannPowerment coming online, we will be able to touch even more companies who started out in a similar position to ButACake.”
ButACake was founded in 2016 by its CEO, Figaro, a first-generation Haitian-American trained pastry chef from Jersey City. An emerging startup in the legal cannabis industry, ButACake has almost a decade of legacy experience. Currently, ButACake produces Botanical Elixirs (available in Hibiscus and Peach), Infused PB&J Brownies, Infused Chocolate Chip and Oatmeal Raisin Cookies, all available in Columbia Care’s Delaware stores. Ginger peach-flavored oral dissolvable strips are the first of a series of products that are now available at independent dispensaries across New Jersey.
Figaro is also CEO of CannPowerment, which is poised to become the first minority women-owned cannabis product manufacturer in New Jersey. Figaro co-founded CannPowerment alongside the company’s CRO James Barrett, the two have been best friends since third grade. CannPowerment empowers companies in launching new products or expanding their existing product lines quickly, cost-effectively, and with high quality. They take care of all the manufacturing processes, including product formulation, manufacturing, packaging, labeling, and distribution.
Looking ahead, Azuca is excited to deepen its collaboration with Matha, ButACake, and CannPowerment. This partnership will open doors for more companies to benefit from unique ingredient and formulation support, as well as C-suite level advisory access.
Companies interested in exploring opportunities with CannPowerment and working alongside Azuca are encouraged to reach out directly to Matha Figaro and the CannPowerment team at firstname.lastname@example.org. This collaboration represents a unique opportunity to innovate and grow in the cannabis industry.
“By focusing on social equity, the cannabis industry can pave the way for a more diverse and prosperous future, where all entrepreneurs have a viable chance at success,” added Rael.
To learn more about Azuca and the new social equity program, visit AzucaTiME.com.
Azuca serves edibles and beverage manufacturers with best-in-class, fast-acting delivery systems and advanced formulations. Azuca’s products are chef-created, science-forward and powered by its patent-pending TiME INFUSION® process, which encapsulates individual cannabinoid molecules, making them “water-friendly,” for a predictable and controllable experience every time. AZUCA TiME INFUSION® is available in over 100 SKU’s in over 20 states. The company ranked No. 214 on the Inc. 5000, the annual list of fastest-growing private companies in America, and was named to Forbes’ annual The Cannabis 42.0 list in 2023. Learn more about Azuca on AZUCATiME.com and follow Azuca on Instagram, Facebook and LinkedIn.
ButACake is a leading provider of premium cannabis-infused products, committed to delivering unique and high-quality experiences to cannabis enthusiasts and medical patients. With a focus on innovation, craftsmanship, and the finest ingredients, ButACake continues to push boundaries in the cannabis industry. Products are now available in Delaware and New Jersey. Learn more at www.butacake.com.