Obviously, cannabis is still a hot ticket to attract such a diverse combination of investors.
With the funding Caliva hopes to increase its product range as well as its market reach by increasing the number of dispensaries , direct to consumer sales and wholesales to distributors.
Caliva offers a wide range of products, covering flowers, CBD oils, and its own vapes.
“As an investor and supporter, it is my opinion that Caliva’s strong management team will successfully develop and bring to market quality health and wellness products that can provide relief to many people and can make a serious impact on opioid use or addiction“
— Joe Montana, Football legend
It is becoming more and more common to see sports people invest in cannabis opportunities, many of whom themselves may have used CBD products to recover from injuries faster. We recently also reported about two British rugby players starting their own CBD venture.
As part of the funding, Carol Bartz who claimed to “know great opportunities when she sees them” will join the board of directors for Caliva.
This funding round shows that while big money is moving in the sector and investing in the largest companies, there is still an opportunity for new and smaller brands to grow and raise funds, potentially allowing them to scale to multiple states in a near future — or nationwide if a federal pro-cannabis law were to pass soon.
Caliva’s products can be checked out on its website.
In other funding news, Israel-based OurCrowd is launching a new $30M venture fund together with 7thirty. The fund’s offices will be based in Boulder, Colorado. The fund which plans to make investments in the USA, Canada, and Israel, will focus on tech companies in medtech, agricultural tech, e-commerce, and Software-as-aService platforms (SaaS).
Lastly, can now report that the Israeli cabinet approved the export of medical cannabis produced in the country. The law passed the Knesset mid-december last year and has now been ratified by the cabinet. It should bring an estimated $265 million tax revenue to Israel.