Participated · Series A · Jan 2020

Nobl operates a portfolio platform offering cannabis data, conferences and consulting services. Its platform features industry brands including Prohibition Partners, NOBL Live, Atalis, Cannabis Europa and European Cannabis Week. The group is led by Stephen Murphy and the operating company leadership includes experienced media, technology and event management executives. In January 2020 Nobl closed a £1.25m Series A funding round. The company intends to use the funds to continue expanding operations and to broaden its business reach. Nobl positions itself as a global leader in cannabis industry information and events.

Participated · Series B · Sep 2019

PathogenDx offers DNA-based testing via an advanced microarray testing platform for the cannabis, hemp, agriculture, food and beverage industries. Its technology can identify and detect up to 50 pathogens in a single test in about six hours, providing triplicate data per analyte for result certainty. The company sells DNA-testing products branded DetectX™, QuantX™ and EnviroX™ that identify, detect and quantify pathogens such as E. coli, Salmonella and Aspergillus. Led by CEO Milan Patel, PathogenDx serves a portfolio of domestic and international clients in the cannabis industry. The company raised $7.5M in a Series B to support expansion into food and agriculture testing and to build on its cannabis-market position. PathogenDx develops DNA-based pathogen testing kits and solutions for the cannabis, botanical, food, and agricultural markets. Founded in 2014 and headquartered in Tucson, Arizona, the company’s technology scales from individual plants to large agricultural fields. Its platform delivers real-time data to growers, processors, producers and ancillary service providers to detect fungi, molds, viruses and mildew. PathogenDx emphasizes simplicity, cost-effectiveness and adaptable scale for both large and small testing facilities. Management said a recent strategic investment from Salveo Capital will support growth, market expansion and continued focus on product safety. No revenue or user metrics were disclosed in the article.

Led · Equity · Sep 2019

KannaSwiss supplies bulk CBD isolate and distillate as well as a range of CBD wellness products, including hemp oil, tinctures, creams and cosmetics. Founded in 2014 by Ivan Enderli and led by CEO Boris Blatnik, the company serves European customers from Kölliken, Switzerland. It operates three divisions: Health & Wellness and Bulk Sales (active) and a Medical division under development through joint ventures. KannaSwiss raised $5.5M to materially scale its commercial ethanol extraction operations and expand both bulk sales and branded product development. The company plans to use the funds to add production capabilities and increase biomass intake to meet customer demand. Management is also targeting accelerated attainment of ISO 9000 and GMP certification to support its growth.

Participated · Series C · Sep 2019

Canndescent is a Santa Barbara, Calif.-based cultivator of premium cannabis led by CEO Adrian Sedlin. The company sells flower under the Calm, Cruise, Create, Connect and Charge labels and operates two brand tiers: Canndescent (ultra-premium) and goodbrands (middle market). It has launched its brands into other product categories including vapes and ingestibles and into additional geographies. Consumers can currently purchase its products in California and Nevada. Canndescent raised $27.5M in a Series C financing to support growth. The company plans to use the proceeds to expand into vapes and ingestibles, grow in Massachusetts, Nevada, Canada and beyond, and deepen investments in both of its brands. Canndescent is a Santa Barbara-based cannabis cultivator that grows and markets premium flower for the adult-use market. Led by CEO Adrian Sedlin, the company applies practices from consumer-packaged goods, advanced agriculture and luxury lifestyle marketing. It opened a municipally-permitted cultivation facility in 2016 and launched a premium flower brand in California in 2017. It is now opening a second facility, quadrupling its production to 48,000 square feet, and plans to expand production presence to over 100,000 square feet. Consumers can purchase Canndescent products at dispensaries and delivery services throughout California. The company raised $10m in Series B funding to finance new product launches and further expand production capacity. Canndescent cultivates and markets a branded line of premium cannabis flower produced, packaged and distributed in accordance with state and local laws. The company closed a $6.5M seed funding round to support its operations. It intends to use the proceeds for working capital, marketing, and additional property, plant and equipment. Canndescent planned to open a facility in Desert Hot Springs, CA the following month, operating under a municipally issued conditional use permit specifically for cultivation. The business emphasizes compliant, packaged flower as its core product while expanding cultivation capacity and market presence.

Led · Equity · Aug 2019

BDS Analytics, founded in 2015 and based in Boulder, Colorado, provides cannabinoid market intelligence and consumer research through its GreenEdge platform. GreenEdge integrates up-to-date dispensary sales data, industry intelligence and detailed consumer research, tracking and categorizing millions of individual consumer transactions to produce market-wide financial projections. The company held an initial $7m closing of a new $10m financing to fund growth. It will use the capital to expand coverage of emerging cannabis markets with a focus on providing a holistic view of the global cannabinoid market (cannabis and CBD). BDS also plans to strengthen its operating infrastructure via investments in machine learning, marketing and sales, and strategic partnerships. The company recently updated its board, with Pete Karabas of KEY Investment Partners joining the board and Micah Tapman of 7thirty appointed chairman. BDS Analytics provides businesses with comprehensive, actionable, and accurate cannabis market intelligence and consumer research. The company aggregates dispensary point-of-sale data through its GreenEdgeTM platform, conducts consumer research via its Cannabis Insights Group, and produces market-wide cannabis industry financial projections. Led by CEO Roy Bingham, BDS positions itself as a holistic source of market and consumer insights for the legal cannabis supply chain. The company intends to use new funding to expand its business reach. The article reports a $750k Series B raise to support that expansion. No revenue or user metrics were disclosed in the article. BDS Analytics builds an insight-rich platform that collects, processes, and presents point-of-sale market-share data for the cannabis industry. The company provides actionable insights derived from millions of transactions to help dispensaries, brands, and growers make decisions on product development, inventory, and branding. Co-founders Roy Bingham and Liz Stahura bring extensive market-research and point-of-sale analytics experience; Bingham is a Harvard MBA and former McKinsey consultant, and Stahura spent a decade at a leading market research firm. Leadership says the platform gives clients a competitive edge as the cannabis market becomes more complex. Financially, BDS closed its first funding round, which will support continued platform development and client services. The company is based in Boulder, Colorado.