Canndescent, a Santa Barbara, California-based cannabis cultivator, raised $10m in Series B funding.
Backers included Floret Ventures and Altitude Investment Partners.
The company intends to use the funds to finance the launch of new products and to expand its production presence to over 100,000 square feet.
Led by CEO Adrian Sedlin, Canndescent is a cultivator of cannabis for the adult-use market, combining experienced management and best practices from consumer-packaged goods, advanced agriculture, and luxury, lifestyle marketing.
The company opened a municipally-permitted, cultivation facility in 2016 and later launched a premium flower brand in California 2017. It is now opening its second facility, quadrupling its production to 48,000 square feet.
Consumers can purchase Canndescent products at dispensary and delivery services throughout California.
FinSMEs
25/01/2018