Cannabis beverage company Cann raises $27m in Series A round

Cannabis-infused beverage company Cann has announced a $27 million Series A funding round and its expansion into Canada.

Existing investor Imaginary Ventures participated in the round, along with a roster of celebrity investors, including Nina Dobrev, Adam Devine, Zoey Deutch, Jordan Cooper, Sara Foster and Rosario Dawson.

Cann produces and markets alcohol-free microdosed beverages, and all of its core products contain 2mg of THC and 4mg of CBD, designed to deliver a “light, uplifting social buzz”. Flavours include Honeydew Mint, Blood Orange Cardamom, Grapefruit Rosemary and Cranberry Sage.

Luke Anderson, co-founder of Cann, said: “Despite it being as difficult to sell Cann to retailers as it would be to sell meat in a vegan grocery store, at the end of the day the consumer votes on the company’s success with their dollar and as they keep showing up, the channel is finally starting to understand that they have more crowded stores when Cann owns the fridge. Consumers are demanding Cann everywhere and this funding allows us to deliver on that demand across channels and borders.”