Vertosa, cannabis and hemp infusion tech start-up, has secured $6 million in a seed funding round, to solidify its position in the market.
The company intends to use the capital to continue to scale strategically, solidify their integral role within the infused products supply chain, and assist their partner brands in growing both nationally and globally.
According to the company, Vertosa sought out investments from key players in food and beverage including alcohol, as well as in the cannabis industry, with the aim of combining the two.
The round was co-led by California-based AFI Capital Partners and cannabis-focused venture firm Welcan Capital. Collectively, AFI and Welcan have invested in over 25 cannabis companies across the country.
Based in San-Francisco, Vertosa provides active ingredients for infused product makers. Its customised emulsion systems provide aqueous solutions to create stable cannabis-infused products that maximise bioavailability, while tailoring colour, texture and taste to fit the manufacturing needs of its food, beverage, health, beauty and other partners.
Previously, Vertosa has partnered with start-ups including House of Saka wine, Tinley Beverage Co, GoodDay Beverages, Humphry Slocombe ice cream and VitaCoco.
“We purposefully designed this fundraising round to be collaborative and diverse,” said Vertosa CEO Ben Larson.
Larson added: “As a relatively young B2B business, we’re thrilled to have garnered a strong network of investors who recognize Vertosa’s early achievements, are confident in our growth potential, and actively support our vision and values. We’re proud to have the support of investors from all related categories in which we serve in a multitude of geographic markets.”
Other investors include Goat Rodeo Capital, which has a portfolio of alcohol and cannabis investments, Big Rock Partners, known for its network of cannabis, hospitality and media brands, along with other investors active in general consumer businesses, such as Finn Capital Partners and JamJar Investments.
© FoodBev Media Ltd 2019