US cannabinoid extractor gets $35m backing to boost production

Mile High Labs has announced $35m in Series A funding from institutional and private equity investors.

The Colorado US-based company, which claims to be the leading cannabinoid extractor in the world, says this is the largest Series A financing in the history of the cannabis market.

Series A funding typically refers to a company’s first significant round of venture capital financing – though how exactly a company defines “first” and “significant” can differ from case to case. In this instance Mile High said it will use its Series A funding to expand production capacity of CBD extracts in order to meet increasing demand.