Hemper, a cannabis accessories and lifestyle brand that designs and produces products for consumers and industry partners, closed a $10m Series A financing round.
The round, which followed a $1m seed round this past summer, was led by Poseidon Asset Management and existing investor Evolution VC Partners.
The company intends to use the funds to develop its new platform, expand into new geographic markets, and accelerate sales, marketing and product development.
Launched in 2015 by CEO Bryan Gerber, CFO Ravjot (RJ) Bhasin and COO Henry Kochhar, Hemper is a diversified cannabis accessories and lifestyle brand that designs and sells innovative products for the smoking market to consumers and industry partners. Its limited-run boxes include celebrity-designed and curated editions with original artwork that have become collectors’ items. The company, which now has in excess of 10,000 monthly subscribers with more than 250,000 boxes shipped to date, also designs and manufactures its own innovative smoking accessories, selling them through its online store and in more than 1,000 retail stores nationwide.