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.
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