Clever Leaves International Inc., a multi-national operator (MNO) and licensed producer of pharmaceutical-grade medical cannabis and hemp extracts, held the first closing of its Series E financing at US$14m.
This brought the company’s total funding to over US$120m.
The majority of the Series E capital was invested by institutional investors with a demonstrated track record in the sector.
The company intends to use the funds to expand its commercialization efforts, further develop existing brands, and expand its operations in Portugal. The funds may additionally support the expansion of the company’s recently launched direct-to-business sales platform, Clever Leaves 360, which offers pharmaceutical-grade cannabis extracts and finished products fit for a broad range of industries. Proceeds from the financing may also be used to further enhance operations in Colombia and to continue building out its distribution channels in Germany and throughout Europe.
Led by Kyle Detwiler, CEO, Clever Leaves is a multi-national cannabis company and a vertically integrated producer of medical cannabis and hemp extracts. It is currently cultivating over 1.8 million square feet of greenhouses under Good Agricultural and Collection Practices (GACP) in Colombia.
In November 2019, the company received authorization from INFARMED I.P., the Portuguese regulatory authority, to start cultivation operations in Portugal.
Clever Leaves is one of the world’s largest hemp and medical cannabis producers, with a global footprint encompassing brands, extraction facilities, cultivation operations and other investments across Canada, Colombia, Germany, Portugal, and the United States.
FinSMEs
14/04/2020