Green Dot Labs, Colorado’s leading producer of fine cannabis extracts, closed their Series A Round with a $3.3 million investment from Tuatara Capital, L.P.
Green Dot Labs, founded in 2014 in Boulder Colorado was the first in Colorado to build safe indoor hydro-carbon extraction facilities. This means that they reclaim 100% of the hydrocarbon gases used in the extraction process, so virtually no gases are released into the environment, no gases are exposed to their staff, and no gases remain in the final product. Green Dot Labs has built a reputation on having proprietary, highly sought-after genetics and exceptionally potent, clean and flavorful whole-plant extracts.
Tuatara Capital, L.P., founded in 2014 as a specialized alternative investment manager to exclusively focus on the legal cannabis industry, exploring investment opportunities throughout the supply chain from genetics to consumer consumption with a current focus on research & testing, cultivation, processing, consumer & retail. In August 2015, Tuatara completed a fundraising round of nearly $26 million. According to the SEC filing, they raised a total of $25.75 million from 51 separate investors. A year later, Tuatara closed another round raising over $93 million to invest exclusively in the cannabis industry. To date Tuatara Capital, L.P. has invested in Teewinot Life Sciences, Willie’s Reserve and Green Dot Labs.
The investment from Tuatara Capital, L.P. is more than just an investment, but a strategic partnership. This partnership provides Green Dot Labs with a cannabis-focused strategic advisor and the ability to leverage Tuatara’s broad network of relationships. While also helping Green Dot Lab’s to secure necessary intellectual property and facilitate new market expansion.
“To date, Green Dot Labs has focused on developing quality-driven indoor cultivation and extraction methodologies and delivering high-end products to the Colorado market. Tuatara shares our commitment to producing quality cannabis products as well as our vision for innovation and regulatory leadership. We are confident that our partnership with Tuatara will support our company in reaching its full potential as a leader and standard-bearer in cannabis and concentrate production,” said Green Dot Labs Co-Founder and CEO Alana Malone.
How will the funds be used?
Most of the funds will be used to advance Green Dot Lab’s cultivation and extraction operations in Colorado. Currently, cultivation is already underway at their new, state-of-the-art grow facility. This new facility automates proven cultivation methods and prepares them for the expansion of the companies R&D in genetics, advanced cultivation practices, and solvent-based extractions.
By early October, Green Dot lab’s will have a new extraction lab which will help them expand production.
The new cultivation and extraction lab will allow for increased production and development of their proprietary genetics, which is showcased in the premium Black Label Nectar Line. Black Label Nectar will be making its way to Colorado’s adult-use market in October 2017.
To learn more about Green Dot Labs, you can visit https://greendotlabs.com/
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