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.