Los Angeles Cannabis Company Says it Raised $58 Million
From L.A. Biz –
Los Angeles cannabis company Vertical Cos. said it’s raised $58 million in a Series A round of financing.
The company said it’s now raised a total of $65 million in the past five years and is getting ready to spin off its hemp-based cannabidiol (“CBD”) assets — Vertical Wellness — later this year.
Investors in the latest round of financing include cannabis industry private equity fund Merida Capital Partners. Other investors, Vertical said, include “numerous global business leaders, including significant players in the alcohol distribution and brand space.”
