Cannabis Technology Firm Vertosa Secures $6 Million in Seed Funding to Strengthen Market Position of Its Infused Products

2019Year12Month4Recently, VCBeat (WeChat ID:vcbeat) According to Business Wire,MedicalCannabis Technology CompanyVertosaAnnouncement of Completion600a seed funding round of ten thousand U.S. dollars. This round of financing was led by the California-basedAFI Capital Partnersand based in New YorkWelcan CapitalCo-lead,Rodeo Capital、Big Rock Partners、Finn Capital PartnersandJamJar Investmentsjoint investment.

It is reported that Vertosa will use the funds to continue its strategic expansion, in order to consolidate itsMedicalCannabis-Infused Productsa pivotal role in the supply chain and assists its partners in expanding across the United States and globally.

Vertosa, a medical cannabis technology company co-led by CEO Ben Larson and CSO and Founder Dr. Harold Han, provides customized emulsion delivery systems for infusion products to meet the needs of partners in the food, beverage, health, beauty, and other industries. The company works closely with laboratory partners and clients of all sizes throughout the manufacturing process to achieve target potency and accelerate time-to-market.

Ben Larson, CEO of Vertosa, stated, “This round of financing is aimed at driving Vertosa’s substantial growth and diversifying our investor network. As a relatively young B2B company, we are delighted to have secured a robust network of investors who recognize Vertosa’s early achievements, have strong confidence in our growth potential, and actively support our vision and values. We are honored to receive backing from diverse categories of investors across multiple geographic markets.”

To bridge the gap between the mainstream consumer market and the medical cannabis industry, Vertosa is primarily seeking investments in food and beverage (including alcoholic beverages and consumer packaged goods), medical cannabis, and other sectors. The investments from AFI Capital Partners and Welcan Capital underscore the company’s objectives for this funding round.

Specifically, AFI Managing Director Chi-Chien Hou has a strong background in consumer packaged goods; his fellow Managing Director, Nico Richardson, specializes in the legal cannabis industry and also serves on the board of Headset, a leading provider of data and analytics for the cannabis sector. In addition, Welcan is a cannabis-focused venture capital firm led by Partner Vikas Desai, who has actively invested across the medical cannabis market ecosystem. Notably, AFI and Welcan have collectively invested in 25 cannabis companies nationwide.

Ben Larson added, “The success of this funding round validates the work our team has accomplished over the past year—developing industry-leading technology while serving the medical cannabis market. We are committed to building and maintaining strong partnerships with our collaborators, and to advancing technology and product development through a science-first approach, thereby differentiating ourselves in a competitive landscape. As such, the new capital raised in this round will enable us to further enhance our services.”

AFI Capital Partners is a growth equity fund focused on early-stage and growth-stage investments in hyper-growth markets. The firm primarily invests in ancillary businesses that support and serve rapidly emerging industries.

Welcan Capital is a venture capital firm focused on medical cannabis, dedicated to investing in high-impact startups within the medical cannabis industry, primarily at the early and growth stages.

(Compiled by Xiong Hui)