It’s been a whirlwind year for Matha Figaro, CEO of the East Coast edibles brand ButACake, who in December 2023 became the first independent operator to bring an edible product to market in New Jersey.
Now, Figaro is gaining additional support as the first beneficiary of a new social equity program started by the edibles ingredients company Azuca. As part of the fellowship, Azuca provided Figaro and her team with ingredient and formulation support, advisory access and assistance at scaling her business and boosting sales.
In addition to her leadership of ButACake, Figaro is CEO of CannPowerment, which partners with cannabis brands to launch new products quickly and cost-effectively, handling all of the manufacturing processes, including product formulation, packaging, labeling and distribution.
Although ButACake was founded by Figaro in 2016, the company enjoyed breakout success in 2023. From May through September, the company sold more than 5,000 units in Delaware. ButACake debuted in Figaro’s home market of New Jersey in December, making her not only the first independent operator in the state to produce a line of edibles products, but also the first minority- and woman-owned business in New Jersey to launch such a product. She was featured in Marijuana Venture’s 40 Under 40 issue in June 2023.
Partnering with Azuca allowed ButACake to bring its vision to life, Figaro said. The company’s product line includes infused PB&J brownies, chocolate chip and oatmeal raisin cookies and hibiscus- and peach-flavored beverages that utilize Azuca’s RTD ACTiVATOR technology.
“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,” Figaro said. “We are just scratching the surface.”
“Azuca’s new social equity program aims to create a level playing field in cannabis and support deserving entrepreneurs in their innovation efforts,” Azuca CEO Kim Sanchez Rael said. “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.”