Steep Hill, a Berkeley, Calif.-based provider of cannabis testing and analytics solutions in the U.S. and internationally, received further funding from Merida Capital Partners.
The amount of the deal was not disclosed. Merida has increased its stake in the company and has selected Dr. Andrew Rosenstein to assume the role of interim CEO for the company effective immediately.
Dr. Rosenstein replaces Jmîchaeĺe Keller, who has retired for health reasons.
A board certified Gastroenterologist and the Chief of the Division of Gastroenterology at University of Maryland Saint Joseph Medical Center, with experience building and operating cannabis testing laboratories in two of the most regulated states in the U.S., Dr. Rosenstein has served on the Steep Hill Board and is a licensee of the company. He currently operates Steep Hill Maryland, Steep Hill Pennsylvania, and Steep Hill Washington, D.C.
As part of Merida’s increased investment, Jeffrey Monat, a partner at Merida, has joined the Steep Hill Board of Directors. He is joined by recently appointed board members Brett Finkelstein of Phyto Partners and entrepreneur and investor Stephen Finfer.
Steep Hill is a cannabis science and technology company providing lab testing, research and development, licensing, genetics and remote testing. The company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world.
The company operates corporate owned labs in California, New Mexico and Washington State, U.S. licensees in Alaska, Arkansas, Hawaii, Maryland, Oregon, Pennsylvania and Washington, D.C., and global licensees in Canada, France, Germany, Italy, Mexico, Spain, Switzerland, and the United Kingdom.