Cannalysis, a hemp and cannabis testing lab primarily based in California, raised $22.six million that it stated will fund its expansion in the state as nicely as assisting it to move into other marijuana markets in the U.S.
The Santa Ana-primarily based business raised the dollars from Canlab, a cannabis, hemp and CBD testing laboratory network.
The unusually significant raise for a lab also will assistance fund its ongoing robotic automation of cannabis testing solutions.
“Cannabis and hemp testing is nevertheless in its nascent stages, and there’s an huge marketplace chance as legalization becomes much more widespread and the utility of CBD merchandise grow to be much more prevalent,” Cannalysis Executive Chairman Gary Hopkinson stated in a statement.
For evaluation and in-depth appears at the investment trends and bargains driving the cannabis business forward, sign up for our premium subscription service, Investor Intelligence.
Subscribe to our Newsletter