Cannabis Brand Management Company Raises $8 Million

By:
Million

On April 4, 2016,  Strainz Inc., a national cannabis brand management company, announced that it had raised $8 million, $6 million of which was raised through Series A funding from venture capital and angel investors.

Strainz will use the $8 million to accelerate and expand its brands in Colorado, Nevada and Washington, as well as bring on additional senior management and staff.

“This financing is a testament to the strength and experience of our management team and shows confidence in our product development plans and national expansion strategy,” said Hugh Hempel, CEO of Strainz.

“With this new infusion of capital, Strainz is well positioned for growth and to lead the way in setting quality control standards with its local partners and licensees in the cannabis industry by implementing the best practices from other highly regulated industries such as food and nutraceutical manufacturing,” Hempel added.

 

The staff byline designates content that has been written by a staff writer of MJINews.

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