C3 Industries, an Ann Arbor, Mich.-based multi-state, vertically integrated cannabis company, raised $25m in funding.
The round was led by existing investor Madison Square Park Capital with participation from current investor Welcan Capital and new institutional investor Navy Capital, among others. C3 previously closed $40+ million of capital in a series of private rounds, bringing the total amount of capital raised to date to roughly $65m.
The company intends to use the funds to accelerate its expansion in both its existing markets of Michigan, Massachusetts, Missouri and Oregon as well as new states, which it plans to enter organically and via M&A opportunities. C3 will also invest in its team, brands and business infrastructure as it continues to scale.
C3 Industries is a multi-state, vertically integrated cannabis company with the product brand, Cloud Cover Cannabis, and a retail network, High Profile. The company produces high-quality cannabis products across all categories in Oregon and Michigan and is soon to launch in Massachusetts and Missouri. It currently has eleven retail locations with full approval in Michigan and multiple additional locations under development.