Cann, a Los Angeles, CA-based cannabis-infused social tonic maker, closed a $5M seed funding round.
The round was co-led by Imaginary and JM10 Partners with participation from Navy Capital, Global Founders Capital (for whom this was also a first cannabis investment), Cresco Capital, as well as key strategic investors including Brian Spaly of Bonobos and Trunk Club, among others.
The company intends to use the funds to grow Cann across California and to new legal state markets, as well as expand its production capacity, broadening and accelerating product development.
Led by Luke Anderson and Jake Bullock, Cann balances 2MG of THC and 4MG of CBD to offer a tonic, which aims to provide a feeling of vigor and well-being in about 10 minutes. Ther tonic has 30-35 calories per can and only five, all-natural ingredients. All products are non-GMO and contain no gluten, added sugars, concentrated juices, or artificial flavors.
Stocked in over 60 dispensaries throughout California, Cann is also available for delivery across California via Eaze, a large marketplace for on-demand cannabis delivery.