European medical cannabis company AceCann announced the closing of a $15M (USD) round of Seed financing. The funding round was led by venture firm Casa Verde with participation from Portuguese venture capital firm, Lince Capital, along with public funding and debt capital. The Company will use the proceeds to develop a state-of-the-art production facility located in Vendas Novas, Portugal dedicated to the organic cultivation, processing, and extraction of premium medical cannabis products. Construction started in September. We aim to create the gold standard in medical cannabis – from cultivation to commercialization, with IP ownership at every step in the value chain. AceCann CEO Pedro Gomes With the support of our investors, we are able to accelerate our mission to develop consistent, high-quality products that give patients access to life-changing innovation. With the European cannabis market expected to reach $3.4B USD by 2024, AceCann is distinguished by its unique cultivation process and pharmaceutical manufacturing expertise. This enables the Company to create products with unparalleled quality. Through its focus on smaller, scalable, indoor farming methods, AceCann will be able to precisely manage temperature, humidity, and other variables to ensure each plant receives daily care while meeting the quality standards associated with premium medical cannabis products.
Published Ncv Newswire, New Cannabis Ventures, 10/12/2021 08:37:00