In what appears to be the largest Southern California cannabis investment to date, Canndescent has raised $6.5 million in seed funding as it launches the first facility in Southern California with the permit’s specifically for cultivation.
Canndescent, a Santa Barbara, California-based cultivator of premium cannabis flower has 70 years of collective growing expertise embedded in our cultivation team, and when combined with the deep operational and technical strength of their management team, has allowed them to produce California’s highest quality cannabis flower. With a mission in making cannabis approachable by categorizing their flowers in a way that helps their patients get the desired impact, they are looking for like calm, create, connect, charge and cruise.
The round was led by Lee McPherson, with participation from 30 investors. McPherson stated,” “At this moment in history, cannabis is an execution play requiring a blend of six sigma operations and state-of-the-art marketing. Canndescent was the first company of the 50-plus I reviewed that possessed the vision, passion, expertise and focus on building something extraordinary.”
The proceeds from the seed round are designated for working capital, marketing, property, plants, and equipment for the new facility in Desert Hot Springs. The new facility is set to open on September 29th, 2016
Canndescent CEO, Adrian Sedlin, “We’re thrilled to have raised the largest seed round for a SoCal cultivator. It validates the milestones we’ve already achieved, our consumer value proposition, and the team we’ve assembled. We’re grateful for the opportunity to help our consumers, shareholders and employees be their best self and become Canndescent”
To learn more about Canndescent, watch our DCNTV episode.
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