BastCore, a Montgomery, Ala.-based manufacturing industrial hemp fiber processing & technology company, completed a $2.8m Series A financing.
Poseidon Asset Management participated in the round.
The company intends to use the proceeds to further enhance its proprietary decortication and degumming technology, hire new personnel and serve the demand it is seeing from the textiles market in addition to many other markets.
Founded in 2014 and led by CEO Coleman Beale, BastCore buys hemp stalks and sells fiber products. The company specializes in processing industrial hemp and has the opportunity to supply the raw material for over 25,000 industrial use cases and applications.
FinSMEs
23/04/2021