Prohbtd, a Los Angeles-based marijuana media firm, says it plans to go public in Canada after two fundraising rounds totaling $12 million.
The raises included a recently completed $8 million funding round led by Delavaco Group, a private equity firm with a history of investing in retail and consumer brands – including Cold Stone Creamery and American Apparel, as well as Canadian cannabis producer Aphria.
That raise follows an initial $4 million of seed funding.
The funding will be used to ramp up staff and content, as well as for potential acquisitions, the firm said in a news release.
Through its in-house agency, Prohbtd has partnered with more than 60 cannabis-focused brands for product development, design, market strategy and integration with the platform’s original content, according to the release.
Video content streamed from the company’s multiplatform network is syndicated across 15 partner platforms, including Apple TV, Roku, Amazon, Android TV and Dailymotion.
The company said details about its plans to go public in Canada will be released “soon.” Company officials couldn’t be reached immediately.