California — Canndescent, a Santa Barbara, California-based cultivator of premium cannabis flower, has closed a $6.5 million seed round funding deal.
Leading the round of 30-plus investors, Texas-based Lee McPherson said, “At this moment in history, cannabis is an execution play requiring a blend of six sigma operations and state-of-the-art marketing. Canndescent was the first company of the 50-plus I reviewed that possessed the vision, passion, expertise and focus to build something extraordinary.”
Canndescent CEO, Adrian Sedlin, “We’re thrilled to have raised the largest seed round for a SoCal cultivator. It validates the milestones we’ve already achieved, our consumer value proposition, and the team we’ve assembled. We’re grateful for the opportunity to help our consumers, shareholders and employees be their best self and become Canndescent.”
- Opens its 1st Desert Hot Springs, California Facility on conditional use permit for cultivation, September 29, 2016
- Canndescent leads the cannabis 2.0 charge in California with a combination of world-class management and deep cultivation expertise.
- Proceeds from seed round designated for working capital, marketing and property, plant and equipment