Dewey Scientific, the Pullman, Wash.-based agtech startup that is leveraging genomics, data science and more to improve the quality and genetic diversity of cannabis crops, has raised $3.2 million in new funding.
The Hawthorne Collective is a brand new investment arm for Scotts Miracle-Gro’s cannabis industry. Monday’s Series A cash announcement was made by them.
Dewey intends to make use of the money to purchase new equipment, expand its research and develop. Selway Holdings will work with Dewey to obtain a $1.8 million greenhouse for cannabis.
Three PhD-level plant scientists from Washington State University founded the startup in 2018. They provide scientific services for cannabis growers as well as their proprietary cannabis genetics. Dr. Dewey is the CEO. Jordan Zager, co-founder of Dewey Dr. Paul Mihalyov was a student at WSU. Mark Lange is Dewey’s chief scientist officer. Lange is known as an expert on terpenes, which are scented compounds secreted by plants that may play a role in the effects that different cannabis strains have on people.
In a press release, Zager stated that Zager plans to create a franchise system for cultivators in the U.S.A and also license the company’s genetics.
Dewey Scientific previously raised $1.25 million in an October 2019 seed round. It currently employs 16 people and will increase its scientific staff over the next few months.
Publiated at Tue 17 August 2021, 04:06:43 +0000