The Venture Codex

Led · Equity · Jul 2024

MedicannX develops and operates an automated aeroponic medical cannabis cultivation system with four-meter tiered columns and proprietary climate controls. The system sprays recycled water with added fertilizer onto roots, avoids pesticides, and uses AI-based sensors to monitor 16 nursery monitoring units, each capable of cultivating up to 1,600 plants, enabling uniform product quality and faster cultivation. MedicannX was founded in 2020 by CEO Vitali Binyaminov and is investing in a production plant in Tirat Hacarmel. This year the company began marketing products to 190 pharmacies and describes itself as in a stage of market penetration, with plans to begin marketing medical cannabis oil products in the coming months. The company states it is the only firm worldwide growing medical cannabis using the aeroponic method. MedicannX raised NIS 70 million from Darwin Real Estate and Investments to support expansion and the new production plant.