Cannabis drink company Cann raises $27M, launches in Canada via Truss

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Los Angeles-based cannabis beverage maker Cann raised $27 million in a Series A funding round.

Investors included unspecified “fresh institutional capital,” existing backer Imaginary Ventures and a list of celebrity investors, according to a Tuesday news release.

Cann said it has also launched its drinks in Canada’s largest provincial market, Ontario, “with British Columbia and additional provinces launching in the coming months.”

Cann’s Canadian beverages are being produced by Truss Beverage, a joint venture between Canadian cannabis producer Hexo Corp. and brewer Molson Coors Canada.

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Positioned as an alcohol alternative, Cann’s “core products” deliver 2 milligrams of THC and 4 milligrams of CBD, which the company characterized as “an approachable microdose.”

Cann was the leading marijuana beverage brand in California during the first quarter of 2021, according to data from Seattle-based cannabis market analytics firm Headset.