Connected Cannabis Co. Announces $30 Million Capital Raise
Funding will fuel Connected’s national expansion into promising markets beyond California and Arizona for cannabis production at scale
SACRAMENTO, Calif., April 14, 2021 /PRNewswire/ — Connected International Inc. (“Connected Cannabis Co.” or “Connected”), a premier cannabis cultivator, retailer and market leader in California, today announced the closing of a $30 million capital raise consisting of debt and equity financing. The round was led by existing investors Navy Capital and One Tower Group with participation from new investors Emerald Park Capital, an affiliate of Bryant Park Capital, and Presidio View Capital.
Connected has been building a proprietary genetics portfolio of premium strains and meticulously cultivating cannabis at scale since 2009. With over a decade of industry experience, they are known as a leading brand in the cannabis space and the pioneer of “designer weed.” The company currently operates in California and Arizona. By virtue of its organically-developed and trusted reputation, Connected’s expansion into Arizona in November 2020 has seen continuously high sales since launching.
With the additional capital, Connected will accelerate its national expansion while maintaining control over its state-of-the-art cultivation techniques. The company plans to focus on states with robust cannabis cultures and promising potential for sustained growth, such as Nevada with its entertainment and cannabis tourism and Michigan with its continued increase in sales.
“We’re thrilled to bring Emerald Park Capital and Presidio View Capital into the Connected family and welcome back our long-term partners that have supported our company’s mission from the very beginning,” said Sam Ghods, CEO of Connected.
We are steadfast in our development of new, best-in-class genetics and our production of top-quality flower that has resulted in impressive growth and unwavering customer