Connected Cannabis Co. founded in 2009, has raised $30 million in order to bring its designer weed strains to more states.
The company announced $30 million in debt and equity financing this week, after already raising a $25 million Series A back in 2019.
The new round was led by existing investors including Navy Capital and One Tower Group. New participants were Emerald Park Capital, an affiliate of Bryant Park Capital, and Presidio View Capital.
Connected Cannabis currently operations cultivation and retail facilities in both California and Arizona and has a goal to expand to other states with the additional financing. The company plans on focusing on states such as Nevada and Michigan were there is a promising outlook for growth.
“We’re thrilled to bring Emerald Park Capital and Presidio into the Connected family and welcome back our long-term partners that have supported our company’s mission from the very beginning,” said Sam Ghods, CEO of Connected.
“We are steadfast in our development of new, best-in-class genetics and our production of top-quality flower that has resulted in impressive growth and unwavering customer loyalty. That same commitment and quality that we’ve prided ourselves on from day one will stay with us as we enter additional states. We look forward to bringing our true product and brand to consumers in new markets – that is our highest priority every time we look at expansion,” he added.
