Tilray, a Toronto, Canada-based medical cannabis research, cultivation, processing and distribution company, raised C$60m in Series A funding.
A group of global institutional investors participated in the round.
The company will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand availability of its products to more patients and pharmacies around the globe.
Federally licensed in Canada and Europe and led by Brendan Kennedy, Chief Executive Officer, Tilray currently sells pharmaceutical-grade, GMP-certified medical cannabis products to tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in eight countries spanning four continents through its affiliated entities in Australia and New Zealand (Tilray Australia New Zealand Pty Ltd), Canada (Tilray Canada Ltd), Germany (Tilray Deutschland GmbH), and Portugal (Tilray Portugal Unipessoal Lda).
Since its founding in 2014, Tilray has been wholly-owned and solely funded by Privateer Holdings.