Cannabis Funding: Holistic Industries Raises $55M

The vertically integrated cannabis company Holistic Industries announced Thursday that it has closed a $55-million funding round.

The company began operating on the East Coast, and soon after reached Midwest and West Coast, with business in Maryland, Michigan, Washington D.C., California and Pennsylvania.

Holistic Industries said it will use the money from the funding to stimulate the expansion and enable wider access for patients and consumers to its cannabis products.

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“From the highest quality products and store design, to putting employees first and managing assets responsibly, we are a true operator with ambition to be the best place to work, shop and invest in the cannabis industry,” CEO Josh Genderson said in a statement.

“Our mission is to provide patients and customers access to the safest and highest-quality products possible, and with this latest investment, we will continue to deliver on that mission.”

What differentiates Holistic Industries from similar cannabis operation is its ability to earn licenses instead of acquiring them on the open market, the company said.

Holistic Industries was founded n 2011 and has since developed into a national medical and consumer goods company with growing and extraction sectors and the Liberty-branded retail dispensary chain.

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