Stars Pile On THC Beverage Brand
Photo credit: nrkbeta, licensed under CC BY-SA 2.0
Cann, a Los Angeles-based startup that makes cannabis-infused soda beverages, has drawn investments from a star-studded group that includes actresses Rebel Wilson, Gwyneth Paltrow, Ruby Rose, actor Daren Criss, pro basketballer Baron Davis, entrepreneur Casey Neistat, and musicians Tove Lo and Bre-Z. The exact amount of funding that came from the aforementioned celebrities isn’t disclosed.
The celebrities who provided the new funding for Cann aren’t just investors but also brand partners that’ll help promote the company’s business. Since its launch just last year, Cann has sold over 2 million cans of cannabis-infused beverages, making it one of the fastest-growing cannabis brands in history. According to research firm BDS Analytics, Cann is the number one selling thc-infused beverage in the state of California.
Cann is currently available in three states, California, Nevada, and Rhode Island. It’s sold via legal cannabis dispensaries such as MedMen, Sweet Flower, and Urbn Leaf and can also be purchased online. The company plans to expand into four additional US states in the next six months.
|Photo credit: Cann|
Cann’s new fundraising follows a $5 million seed round that was raised in January this year. Backed by outside funding, the company, which was founded by Stanford and Harvard graduates, is seeking to become a major THC beverage brand and ride on a market that’s on pace for rapid growth in the coming years.