Connected Cannabis Co.Was founded in 2009 and has since grown into a leading designer cannabis company. And on April 14, the company announced $ 30 million in debt and equity financing. Connected Cannabis raised $ 25 million in Series A funding in 2019, led by existing investors such as Navy Capital and One Tower Group, and affiliated with Bryant Park Capital. Emerald Park Capital and Presidio View Capital also participated.
Connected Cannabis currently operates cultivation and retail facilities in California and Arizona. And with this additional funding, it will expand to other regions. According to the company, it plans to focus on states with strong cannabis culture, such as Nevada and Michigan, where growth can be expected.
“We welcome Emerald Park Capital and Presidio to the Connected family and long-term partners who have supported our mission since its inception,” said Sam Ghods, CEO of Connected Cannabis. “We have achieved remarkable growth and unwavering customer loyalty by developing new genetics of best class and producing the highest quality flowers. This commitment and quality we have been proud of from day one. Will remain the same as we expand into other states. We look forward to bringing our true products and brands to consumers in new markets. This is a top priority when considering business expansion. It’s a matter. “
Connected Cannabis is one of an growing number of cannabis-focused companies that raise money ahead of expanding into non-regional areas. As more states legalize cannabis in the United States, more companies are exploring options for expanding their business. However, due to strict federal regulations, cannabis growers like Connected Cannabis will delay the process and operate in different states. This is because regulations vary from state to state, and federal law prohibits interstate transactions.
Cannabis cultivation is easy. And strong, open-minded and generous. But growing cannabis on a large scale is no easy task. That’s why Connected Cannabis has raised additional funding to drive domestic growth.
Category: Public / Diversity
Tags: Connected Cannabis, Financing, Cannabis, USA
Image Credits: Konstantinos Tsakalidis / Bloomberg / Getty Images
(Sentence: Matt Burns, Translation: Naoki Tsukamoto / Twitter）