Participated · Series B · Jun 2022

BioLumic's core product is its Light Signal Platform and proprietary UV treatment systems, which use short-duration UV exposures and data-driven Light Signal Recipes to influence plant biology and genetics without chemicals or genetic engineering. The platform is applied to both seedlings and seeds and is designed to improve crop consistency, increase yield and strengthen disease resistance. The company intends to commercialize the technology across crops including cannabis, soybean, corn, canola and strawberry, and to deepen relationships with cultivation leaders and technology partners in cannabis. BioLumic plans to expand its library of Light Signal Recipes and advance a new generation of recipes focused on photosynthetic and nutrient use efficiency. Financially, BioLumic completed a $13.5M Series B to accelerate commercial growth for its patented technology. The company was founded in 2013 and is led by CEO Steve Sibulkin, with offices in the United States and New Zealand. BioLumic develops a patented ultraviolet (UV) crop-yield enhancement system rooted in research into UV photomorphogenesis. Its seed-focused technology precisely applies UV light treatments to seedlings (initially lettuce, broccoli, strawberry and tomato) to induce root and leaf development and activate secondary metabolism for long-term crop benefits. The company reports commercial use with large-scale produce growers and processors in California and Mexico and yield gains of up to 22 percent; commercial trials are also under way in Spain and the U.K. BioLumic intends to use new funding to accelerate research and commercialization and to expand into row crop and vegetable seeds in the years ahead. It plans to grow its team in New Zealand and at a new U.S. office in California and to intensify global deployment of its UV technologies. The company was spun out of AgTech research at Massey University by Dr. Jason Wargent and is led by CEO Warren Bebb.

Led · Equity · Aug 2020

Headset provides data analytics for the cannabis industry, aggregating information on growers and product manufacturers, retail sales, market trends, top-selling strains, and favored brands across regions. Its datasets cover categories including food, health and beauty products, financial services, and hardware. The company reports more than 300 customers and about 50 employees and projects U.S. cannabis sales of $23.6 billion this year, a 28% increase over 2020. Headset was founded in 2015 by Cy Scott, Brian Wansolich and Scott Vickers, who previously co-founded Leafly, and is based in Seattle. The new $8.6 million funding will help Headset expand its analysis into new legal markets and launch additional services. To date the company has raised about $23 million, according to GeekWire. Headset is a Seattle, WA–based provider of data and analytics for the cannabis industry. The company collects and analyzes consumer transaction information and provides aggregated, standardized and anonymized receipt-level sales data in real time. Headset serves over 1,700 retailers across 30 states and offers tools that help retailers optimize day-to-day operations. Product manufacturers, processors and distributors use Headset’s data to identify trends, stay competitive and collaborate with retail customers. Led by CEO and co-founder Cy Scott, the company plans to use new funding to accelerate expansion into legal markets and pursue opportunities across the growing cannabis industry. The company raised $1.825M in the reported round. Headset operates a market-intelligence platform and analytics tools that aggregate point-of-sale cannabis data for retailers, suppliers and CPG companies, covering sales, inventory, pricing, demographics and basket analytics. The company sells data platforms and analysis tools used to navigate the competitive cannabis landscape and identify opportunities. Headset plans to use new capital to expand into additional U.S. states and provinces where cannabis is legal, including markets it expects to open following upcoming elections. The firm says cannabis consumer spend has risen during the pandemic and its research shows average adult-use market sales are up 25% year-to-date. Headset is a 45-person company founded in 2015; CEO Cy Scott co-founded the business with Brian Wansolich and Scott Vickers. Financially, the company has raised just under $18 million to date and is gearing up for a Series B in 2021. Headset, launched in 2015 by the trio that co-founded Leafly, provides data and analytics to the cannabis industry. The company aggregates retail sales data to deliver real-time market insights and market intelligence to operators and service providers. Headset’s tools help clients monitor sales trends, pricing, emerging sectors, and consumer behavior, and the company says it is tracking billions of dollars of transactions in the U.S. and Canada. The Series A capital will be used to improve products and services, expand offerings into additional U.S. states and international markets, and support partnerships and strategic alliances. Headset also plans to serve new customers in the consumer packaged goods, beverage/alcohol, and financial industries as those sectors increase their interest in cannabis. Headset provides customized business intelligence and up-to-the-minute data for the cannabis industry, including sales trends, emerging sectors, and top products. The company’s product helps clients identify new opportunities, monitor competitors, and tailor product development to reflect real-time consumer behavior. Led by co-founder and CEO Cy Scott, Headset serves cannabis retailers and related businesses with analytics tools. The firm intends to use the new capital to ramp up its suite of data products. No operating metrics were disclosed in the article.

Participated · Series C · Sep 2019

ZeaKal is a San-Diego biotech that modifies genetic crop traits to increase intrinsic photosynthetic capacity through its PhotoSeed technology. PhotoSeed is claimed to allow plants to harvest more sunlight and fix more carbon dioxide, improving seed and grain yield while increasing oil and protein content. The company has multi-year field trials across a range of crops demonstrating success and a joint collaboration with Corteva to develop and test PhotoSeed. ZeaKal plans to use the new funding to widen its commercial focus and roll out the technology across multiple crops, including soy, perennial ryegrass, and rice, and there is specific interest in translating the trait to cannabis and hemp to boost oil and cannabinoid production. The company recently hired long-time DuPont/Corteva executive Paul Schickler to drive strategy and partnerships, a placement facilitated by lead investor Finistere. Financially, ZeaKal closed an oversubscribed $15 million Series C that includes a $10 million strategic investment from Canopy Rivers, with participation from Finistere Ventures and Middleland Capital. ZeaKal is a San Diego, California biotech company focused on developing PhotoSeed™, a biotechnology platform that increases photosynthetic capacity and stress tolerance of major crops. Led by CEO Han Chen with newly added COO Dr. Amy Curran, the company aims to improve agricultural productivity without relying on pest and weed management chemistries. It plans to use the recent funding to expand its PhotoSeed product development pipeline and to bring its lead soybean product into field trials in May. The company was incubated within Kapyon Ventures. ZeaKal also acquired Algenetix, an industrial biotechnology firm developing renewable materials and energies from plant-based sources, for an undisclosed sum. As of the Series B, the company has raised $9.1M in total funding to date. ZeaKal develops an HME technology platform aimed at increasing crop yield and oil content. The company’s HME technology has demonstrated yield increases up to 50% and oil-content increases up to 34% across multiple crops. ZeaKal plans to deploy and further develop the HME platform across major crops, including soybeans and rice. Development work will be conducted in partnership with the University of Missouri at the laboratories of Dr. Henry Nguyen and Dr. Zhanyuan Zhang. The company is led by CEO Han Chen and has shown early, measurable agronomic impacts that could affect demand for biomass across food, feed and fuels. ZeaKal recently completed a Series A financing to fund continued development.

Led · Equity · Feb 2019

Canapar is an Italy-based, vertically integrated CBD manufacturer and processor operating a 1,000‑hectare outsourced organic hemp production and processing platform. Its purpose-built extraction facility is described as the largest pharma‑grade extraction plant in Europe and is designed to meet EU‑GMP and AIFA standards, with certification expected in 2021. The facility has a 600,000 kg biomass extraction capacity and a 10,300 kg annual CBD isolate production capacity. Canapar has commercialized 35 wellness SKUs under the Marishanti brand, opened two Marishanti retail stores, and planned sales commencing in Q1 2021. The company has secured significant supply contracts, including a five‑year €38.5M agreement for full‑spectrum CBD oil, and pursues both B2B and B2C channels to sell APIs and wellness products. Approximately $33M has been invested to date, and Canapar plans to develop CBD‑infused cosmetics, skincare, and beauty products for the Italian and global markets. Canapar operates an Italy-based organic hemp production and processing platform focused on producing CBD oil and isolates. The company has secured more than 1,000 hectares of hemp through an outsource farming model and has an academic partnership with the University of Catania’s Department of Agriculture. It is advancing CBD extraction and processing capabilities via a new facility and expects to transform 600 metric tons of hemp biomass annually into CBD isolates and derivative products for distribution in Europe. Canapar plans to develop CBD-infused cosmetics, skincare, and beauty products targeting the Italian cosmetics market and broader global demand for "Made in Italy" brands. The company is the Canadian parent (Canapar Canada) of Canapar SrL (Canapar Italy) and has attracted strategic investment from Canopy Rivers.