Cannalysis, a hemp and cannabis testing lab primarily based in California, raised $22.six million that it mentioned will fund its expansion in the state as effectively as assisting it to move into other marijuana markets in the U.S.
The unusually massive raise for a lab also will assistance fund its ongoing robotic automation of cannabis testing solutions.
“Cannabis and hemp testing is nonetheless in its nascent stages, and there’s an massive market place chance as legalization becomes much more widespread and the utility of CBD merchandise turn into much more prevalent,” Cannalysis Executive Chairman Gary Hopkinson mentioned in a statement.
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