California Cannabis Startup Radiant Canna Raises $6M, Targets Multi-State Expansion
SANTA ROSA, Calif., Aug. 17, 2021 /PRNewswire/ -- Radiant Canna, California's leading provider of cannabis manufacturing, distribution and tech solutions to independent brands, announced today that it closed a $6M Seed Round investment. CEO and Co-Founder Aaron Selverston said in making the announcement, "Our round was oversubscribed, which is a powerful testament to the company we're building. Our investors and customers understand that our role as a superior, trustworthy and experienced supply chain partner to independent brands in California is as unique as it is unrivaled."
Radiant Canna provides tech-forward manufacturing and distribution services in California to multi-award-winning brands, including Mendocino Grasslands, Ahti Hash, SOG Army, Wonder Extracts, Arcanna, Woodstock Heritage Strains, Ridgetop Botanicals, Madame Munchie, and its own in-house extracts brand, Cosmic. Radiant Canna operates fulfillment centers in Northern and Southern California, including Santa Rosa, San Francisco and Los Angeles.
The company has grown rapidly since its launch in 2019, establishing a unique reputation among top independent brands as a partner offering both operational excellence and deep domain expertise. Radiant Canna's cannabis technologists, with decades of manufacturing experience including launching and building brands like Beboe and ACME while producing premium supply for other top brands, have partnered with seasoned supply chain professionals from traditional tech enterprises like Shutterfly and Singularity.
The seed round was led by D4 Investments, the investment arm of D4 LLC, part of the family office of James Kinsella and Robert McNeal. The firm invests in start-ups and early-stage ventures where Kinsella's and McNeal's experience in building multi-billion-dollar companies in the US and the European Union can help drive a company's success. "Radiant Canna has the experience and know-how to become a national leader in the cannabis industry," said D4's Kinsella. "The combination of the team and its national ambition as a Multi-State Operator (MSO) is why we were enthusiastic about leading the round."
Other investors in the seed round include Donald Kivowitz and Charles Putnam, as well as Emles Venture Partners and West Creek Investments. "Having invested previously in two highly successful cannabis related companies, Radiant Canna checked all the boxes for our team," said Mr. Kivowitz. "Frequently our investments are dependent on smart, sophisticated company leadership. Radiant's leadership is highly intelligent, with the right vision, work ethic, and capability to build a quality company with limitless potential."
Sherri Haskell, CEO of Canna Angels and Strategic Advisor to Radiant Canna remarked, "Advising Radiant has been exciting and rewarding. The team is outstanding, the business model is solid, and their commitment to excellence synthesize as a winning combination. I look forward to Radiant continuing on their trajectory as a leading force in the industry."
For more information about Radiant, please see: https://radiantcanna.com/
SOURCE Radiant Farm, Inc.
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