Tokyo Smoke, a Toronto, Canada-based lifestyle cannabis brand, held the first closing of its Series B funding at approximately CAD$4m.
The current funding round – led by Aphria Inc. and Green Acre Capital Fund I LP – is expected to exceed the initial target of $5m CAD by the end of August 2017.
Other backers included:
– W. Brett Wilson (iBanker, CBC Dragon Emeritus),
– Charles Broderick (one of the largest early investors in Canada’s medical cannabis market, founder of Uji Capital LLC).
The company will use the funds for continued retail expansion across North America, marketing and strategic acquisitions.
Led by Alan Gertner, co-founder and CEO, Tokyo Smoke is a cannabis brand that operates immersive experiences and designer retail spaces selling coffee, clothing and designer products. The company recently completed the acquisition of fellow designer cannabis brand Van der Pop, as well as developed Nesta Brand Co (a brand expansion company bringing the best cannabis products to the Canadian market).