Socati, a Woodburn, Oregon-based developer of hemp genetics, cannabinoid science, and extraction and purification technology, closed a $33m second round of funding.
Investors in the round include:
– Lorne Abony, Founder and CEO of Mood Media, Fun Technologies, Nuuvera and Petopia.com.
– Jim Mellon, European billionaire biotech investor and chairman of both Juvenescence AI Limited and The Burnbrae Group.
– JJR Private Capital Inc., a private capital firm that specializes in financing and advising companies in the financial services, healthcare and consumer goods industries.
The company intends to use the capital to bring operations to manufacturing scale.
Led by Josh Epstein, CEO, Socati is a processor of THC-free full-spectrum hemp. The company engages in large scale manufacturing and has logistics in place to process increasing amounts of hemp biomass to meet demand from international CPG companies that are seeking high-quality raw materials.