Infused beverage company and celebrity favorite Cann announced a $27 million Series A funding round coming from fresh institutional capital as well as existing investors like Imaginary Ventures who added to its original investment. Cann was launched in 2019 and raised $5 million in a seed round in 2020. Cann added its newest celebrity investors Nina Dobrev, Julianne Hough, Sara Foster, Paul Scheer, and Adam Devine. They join current investors, Gwyneth Paltrow, Baron Davis, Rebel Wilson, Kate Hudson, Rosario Dawson, Darren Criss, Casey Niestat, Tove Lo, and Bre-Z. Cann In addition to this milestone funding round, Cann is also announcing its first international expansion with the brand’s launch in Canada. Cann’s Canadian expansion and Series A funding comes on the heels of an explosive year of growth that included 300% sales increase and expansion into four new U.S. states: Illinois, Massachusetts and Arizona. Cann is known for its microdosed THC beverages that aim to change consumers’ relationship with alcohol. For now consumers in Ontario can purchase Cann’s THC social tonics, with British Columbia, Alberta, and additional provinces launching in the coming months.
M Solati, Green Market Report, 02/15/2022 09:00:00