2021 Outlook
Management remains focused on the Company’s core competencies to bring high THC, as well as unique cultivars, to the Canadian market. As retail sales are ramped up, the Company plans to transition from a wholesale model to retail-only sales.
“WILL” – Cultivation Facility in Brampton, Ontario: During Q4 2020, the WILL Facility made its first sale through retail channels, selling approximately 266 kg in total, generating total revenue of $0.8 million. Total sales for 2020 were approximately 474 kg generating total revenue of $1.6 million (2019 – 413 kg, $2.0 million). Sales are expected to increase as the Company sells through additional retail channels. On March 29, 2021, the Company made its first shipment of recreational cannabis to the province of Alberta.
ADB Ventures Announces its First Investments
News Release | 17 March 2021
MANILA, PHILIPPINES (17 March 2021) The Asian Development Bank’s (ADB) new venture arm, ADB Ventures, has announced its first investments. ADB Ventures invests in early-stage technology companies globally that address urgent development challenges in emerging Asia and the Pacific.
Euler Motors Pvt. Ltd., based in India, is an electric vehicle manufacturer and fleet operator focused on last-mile commercial logistics, accelerating India’s and Southeast Asia’s transition to sustainable mobility. Euler Motors has raised $9.4 million in Series A funding with participation by ADB Ventures, Blume, Inventus, and other investors.
Smart Joules Pvt. Ltd., based in India, provides energy efficiency-as-a-service for large hospitals and commercial buildings, delivering savings of up to 40% on energy costs and reducing greenhouse gas emissions. Smart Joules has raised $4.1 million in its Series A financing led by
ADB Ventures Announces Its First Two Investments
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MANILA, Philippines, March 17, 2021 /PRNewswire/
The Asian Development Bank s (ADB) new venture arm, ADB Ventures, has announced its first two investments. ADB Ventures invests in early-stage technology companies globally that address urgent development challenges in emerging Asia and the Pacific.
Euler Motors Pvt. Ltd., based in India, is an electric vehicle manufacturer and fleet operator focused on last-mile commercial logistics, accelerating India s and Southeast Asia s transition to sustainable mobility. Euler Motors has raised $9.4 million in Series A funding with participation by ADB Ventures, Blume, Inventus, and other investors.
March 17, 2021
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Euler Motors, an automotive start-up focused on electric commercial vehicles (EVs) has closed its Series A funding round at $9.5 million, with additional investments of $2.6 million raised from new investor ADB Ventures, the venture investing arm of Asian Development Bank, and existing investor Blume Ventures.
The new funds will be used for Euler Motors’ upcoming launch of three-wheeler cargo vehicle this year, and support market expansion in India to cities like Bangalore, Kolkata, Ahmedabad & Pune, in addition to Delhi NCR. Also, the company prepares to launch an advanced technology L5 vehicle in the upcoming quarter, according to a statement.
“ADB Ventures’ investment in Euler Motors signals a growing market readiness for EV in India. We are delighted and proud that ADB Ventures have chosen Euler Motors as their first investment in an EV company. Blume Ventures have been a continuous source of support to us in the Series A,” said Saurav Kumar, Founde
Peter Wall, Non-Executive Chairman Peter is a technology and cannabis entrepreneur. He has a history of firsts across various industries, including being a core team member of Argo Blockchain PLC, the LSE s first cryptoasset company listing; founding Hubud, Bali s first co-working space; and launching Wildflowers, one of the first Canadian meditation apps. Alexis Abraham, Chief Executive Officer Alexis has worked for two decades in strategic branding, communications, and internet-enabled businesses. He founded a diverse pair of consumer-tech solutions: a leading specialist stationery platform in the UK, and a disruptor of the theatre ticketing market in South Africa. At design agency Pentagram, he worked with the Savoy Hotel, Dorchester Collection, Mothercare, and software pioneer, Thoughtworks, among other global clients.