An Israeli company that has been working on a commercial-scale cannabis analyzer has completed a $2.25 million Series A-1 round of funding.
GemmaCert, based in Tel Aviv, will launch its cannabis potency analyzer by the same name this week in San Diego at the Emerald Conference, a gathering focused on science and cannabis.
The $2.25 million will be used to launch the product, accelerate execution of business development plans, recruit new personnel “and drive us to generate first revenues in 2018,” CEO Dr. Guy Setton said in the release.
GemmaCert, founded in 2015, has raised more than $3 million to date.
The funding round was led by Arba Finance in Tel Aviv; NEO Ventures in Bern, Switzerland; and Stony Hill Corp., Damian Marley’s company based in Beverly Hill, California.