Seedo Corp.,(OTCQB: SEDO), a Tel Aviv, Israel-based startup providing an automated and controlled indoor growing machine for the cannabis and agriculture markets, raised $4m capital raise at a price of $2.75 per share.
The raising was spearheaded by SodaStream CEO Daniel Birnbaum, who recently joined the company’s Board of Directors and is reinvesting in less than one month since his initial investment.
Led by Zohar Levy, CEO and Director, Seedo specializes in the development of automated cannabis growth technologies. Its AI-powered systems enable anyone from average consumers to large-scale producers the ability to grow without prior experience or ample space.
The company recently announced an agreement it signed with Kibbutz Dan for the establishment of an automated containerized growth farm for medical cannabis in Israel. The project is expected to produce 14 tons of dry cannabis bud valued at NIS 86 million.
The advanced systems used for controlled growth results in quality, uniform, product that is free of bacteria and mold that currently plagues greenhouses.