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SEATTLE, April 30, 2021 /PRNewswire/
Headset, the leading provider of data and analytics to the cannabis industry, announced today that it has raised $1.825M led by Silverleaf Venture Partners, a private equity investment manager. Other participating investors are WGD Capital, L.P., a cannabis focused venture fund, and Poseidon, a leading investor in the legal cannabis and hemp industries. This additional funding will accelerate expansion into legal markets and support new opportunities across the growing cannabis industry. The cannabis industry continues to expand at a significant rate, with new markets legalizing faster than ever before, said Cy Scott, CEO and Co-Founder of Headset. With this new round of capital, Headset can better support these emerging markets while continuing to deliver the innovative analytics Headset is known for.
Post money valuation: $25 million
Biggest funding round of 2020: $1 million raised in a convertible note deal. The company said it is looking to raise Series A funding this year.
Total raised to date: $2 million
What the company does: Abstrax is a California-based research firm that creates terpene profiles active chemicals in the cannabis plant for use in isolates, vaporizers, or even as food and beverage additives.
Why investors like the company:
Panther Opportunity Fund s principal
Jordan Tritt says that Abstrax is pioneering consumer sensorial experiences in the cannabis industry. Their cutting edge research, development and formulations have the potential to revolutionize various consumer packaged goods products, he continued.