Cannalysis Raises $22.6M In Series A Funding From CanLab

Cannalysis announced Wednesday the close of a $22.6 million funding round and committed growth capital from CanLab.

The company wants to introduce "a new gold-standard" for the cannabis testing industry. In the near term, Cannalysis will be doubling the size of its headquarters and expanding its footprint in additional states while continuing to scale its advanced robotics and data-automation testing services and operations.

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

“This additional capital allows us to accelerate development and scalability, and continue to provide innovative solutions for our customers,” said Brian Lannon, CEO of Cannalysis. “By utilizing technology developed in-house (including robotics and automation as well as a proprietary software platform), paired with the brightest scientific minds in the field, we are able to provide accurate and robust cannabis and hemp testing at scale with an unparalleled user experience.”

“The ability to stay nimble through this constantly evolving industry is paramount," said Lannon. "One great example is the recent scare of vitamin E acetate in vape products. Having the resources to dedicate an extra mass spectrometer to this test allows our customers supply chains to remain uninterrupted while showing end users that their products meet the highest standards.”