NorCal Cannabis, a San Francisco, CA-based vertically integrated cannabis operator, closed a $27.4m Series A financing.
The round, which brought total amount raised to date to $50m since inception in 2015, was led by Cannabis Growth Opportunity Corporation (CGOC), JM10 Partners and Cresco Capital.
The company intends to use the funds to increase production and manufacturing at its leading-edge Santa Rosa campus, expand its statewide delivery platform and increase its retail and customer-facing presence.
It is also considering a potential 2019 public listing.
Started in 2015 when Douglas Cortina, CEO and Jigar Patel, President, NorCal operates a direct-to-consumer delivery platform for retail sales across California.
The company currently operates production facilities with more than 100,000 sq. feet of indoor flower canopy, manufacturing, processing, packaging and distribution assets, including indoor flower, extracts, edibles and infused products, as well as a network of statewide delivery depots.
NorCal owns and operates two dispensaries with 10 under development.