糖心视频

Marijuana producer and distributor has closed on in what is being touted as for a US-based cannabis company.

It tops from last July.

Follow Crunchbase News on

New York-based private equity firm led Flow Kana鈥檚 latest round for a second time as it also headed up the company鈥檚 $22 million last July. Unnamed private investors also participated in the latest financing, according to a Flow Kana .

鈥淪ince our initial investment, Flow Kana has continued to execute on its mission of developing a robust and inclusive California cannabis supply chain,鈥� said , a principal at Gotham Green Partners, in the听press release. 鈥淲e are excited to participate in this recent raise, which will enable the company to鈥�broaden its reach and message across the state.鈥�

Redwood Valley-based Flow Kana is already considered to be one of the largest legitimate cannabis distributors in California. The latest financing will be used to 鈥渄ouble down on the supply chain strategy and allow Flow Kana to expand into other categories,鈥� CEO told . 听The company is focused on the Northern California region as it prepares for eventual federal legalization, according to the Business Daily.

Five-year-old Flow Kana distributes sun-grown organic cannabis from small craft farmers. The company has said it aims 鈥渢o transform cannabis into the world鈥檚 first fully sustainable agricultural product, advancing a farming ecosystem rooted in transparency, integrity, and shared equity.鈥� Originally from Caracas, Steinmetz previously built and sold a Venezuelan national food marketing and distribution company and worked as an investment analyst at Merrill Lynch as well as a data analyst at NASA鈥檚 jet propulsion laboratory, according to his Crunchbase profile.

鈥淲e strongly believe the cannabis industry is a catalyst for social change and are grateful to have found investors and partners aligned with this vision,鈥� Steinmetz said in the company鈥檚 news release.

Flow Kana said it is also on track to complete the buildout of its manufacturing operations at its Mendocino County headquarters, The Flow Cannabis Institute, which opened processing and white-label services last . 听听

The raise marks the second large cannabis-related funding announcement in 2019 so far. In January, San Jose, California-based announced it had raised $75 million in an 鈥渙versubscribed鈥� financing that included participation from , former CEO of Yahoo and Autodesk, and three-time Super Bowl MVP and Pro-Football Hall of Famer .

Illustration: