Xtraction Services, a Clermont, Florida-based developer of an extraction machine created specifically for cannabis, raised $2.8m in Series B funding.
The round was led by Archytas Ventures with participation from Quinsam Capital (CNSX:QCA) and Ollerhead Capital.
Xtraction Services specializes in CO2 supercritical extraction equipment, lab devices, and service. The company’s proprietary equipment was created by Dwayne Dundore Ph.D., a thermal dynamics engineer who has designed supercritical installations around the world for clients such as the Department of Defense and DARPA.
Understanding the waste and inefficiency of using botanical machines for cannabis, Dr. Dundore set out to design a fully automated, industrial scale CO2 supercritical extraction machine specifically for cannabis and hemp applications. XS equipment and processes are now assisting some of the industry’s largest vape and consumable companies in creating high quality oils and extracts.
FinSMEs
07/06/2018