California-based Flow Kana, the sustainable supply chain company and distributor of sungrown cannabis products and services, has completed a $125 million round of financing – which it says is the USA’s largest private funding round for a private cannabis company to date.
Gotham Green Partners, which led Flow Kana’s Series A raise in May 2018, invested in the round along with additional private investors to accelerate the company’s rapid growth. Flow Kana has raised a total of $175 million to date to build and scale the California cannabis supply chain centered around small, decentralized, sustainably operated cannabis farms.
“We strongly believe the cannabis industry is a catalyst for social change and are grateful to have found investors and partners aligned with this vision,” said Michael Steinmetz, Flow Kana CEO. “Throughout our supply chain, partners and customers have all committed to the sungrown movement and are dedicated to building an industry that has a positive impact on the great challenges that we confront in the world today.”
Flow Kana is California’s number one-selling flower brand, in partnership with the company’s expanding ecosystem of independent craft farmers from Northern California’s Emerald Triangle growing region – Mendocino, Humboldt and Trinity counties.
“Since our initial investment, Flow Kana has continued to execute on its mission of developing a robust and inclusive California cannabis supply chain,” said Michael Henderson-Cohen, a Principal at Gotham Green Partners. “We are excited to participate in this recent raise, which will enable the company to leverage its unique position in the Emerald Triangle and broaden its reach and message across the state.”
Flow Kana is 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 in April 2018.
Flow Kana manufacturing will further expand white label and co-branding services to a full suite of oil-based vapes, topicals, tinctures, and a series of value-add services with cannabis inputs all locally sourced from Flow Kana’s growing ecosystem of Northern California partner farmers.
“We, as cannabis brands, farmers, companies and consumers, have the opportunity to collaborate in a truly meaningful way to foster a healthy cannabis industry,” said Steinmetz. “Let’s learn from the mistakes of industries past and come together to be the change we want to see.”Cannabis Business Worldwide