# Canndescent

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/canndescent

- Industry: Healthcare
- Headquarters: Santa Barbara, US
- Website: www.canndescent.com
- Total disclosed funding: $51M
- Latest round: Series C (Sep 10, 2019)
- Investors on record: 7

## About

Canndescent, LLC specializes in producing high-quality cannabis products for both recreational and medicinal users, focusing on premium flower and unique strains to enhance the user experience.Canndescent, LLC, founded in 2015 and headquartered in Santa Barbara, US, operates in the cannabis industry, offering premium products. The company has undergone changes in its operational strategies to adapt to the evolving market. Adrian Sedlin, the CEO, brings experience from previous ventures in the industry. Canndescent has raised a total of USD 27.50 mn across multiple funding rounds, with the latest being a Series C round in September 2019, led by Green Acre Capital, involving several investors including Altitude Investment Management and Carnegie Arch Capital.Canndescent provides a comprehensive suite of cannabis products, focusing primarily on premium flower and unique strains aimed at enhancing user experience. Their product line is designed to cater to both recreational and medicinal markets, addressing specific consumer needs with a focus on quality and consistency in the cannabis sector. The primary clientele includes both individual consumers and businesses operating within the cannabis and wellness industries, predominantly in North America.Revenue generation is structured through direct sales of cannabis products, with a focus on premium offerings that command higher price points. Partnerships with retailers enhance market reach, complemented by a direct-to-consumer approach that increases accessibility. The pricing strategy accommodates a range of customer preferences while ensuring a stable revenue stream from recurring purchases.Canndescent plans to expand its product line with new cannabis strains and infused products expected to launch by mid-2022. The company aims to penetrate new geographic markets in the northeastern US by the end of 2023. The recent Series C funding of USD 27.50 mn will support these initiatives, allowing Canndescent to enhance its product development and marketing efforts to drive growth in these new territories.

## Funding rounds

- Series C, Sep 10, 2019, $28M — JW Asset Management, Green Acre Capital, Altitude Investment Management, Senterra LLC, Carnegie Arch Capital
- Series C, Sep 7, 2018, $13M — Merida Capital Holdings, Altitude Investment Management
- Series B, Jan 25, 2018, $10M — Floret Ventures, Altitude Investment Management

## Investors

- Floret Ventures (https://capitalatlas.ai/funds/floret-ventures) — Series B
- Altitude Investment Management (https://capitalatlas.ai/funds/altitude-investment-management) — Series B, Series C
- Merida Capital Holdings (https://capitalatlas.ai/funds/merida-capital-holdings) — Series C
- JW Asset Management (https://capitalatlas.ai/funds/jw-asset-management) — Series C
- Green Acre Capital (https://capitalatlas.ai/funds/green-acre-capital) — Series C
- Senterra LLC — Series C
- Carnegie Arch Capital — Series C