FunkSac, a packaging company catering to the cannabis industry, has reportedly received more than $1 million in funding from Casa Verde Capital and also struck a partnership with the investment firm’s managing member, Snoop Dogg.
FunkSac CEO Garret Fortune said the company will use the funding to pay off debt, open new facilities, expand into new markets and develop additional products, according to Crain’s Cleveland Business.
Snoop Dogg – who helps run Casa Verde, a marijuana-centric venture capital firm – will also work with FunkSac to co-brand and co-develop products for his recently launched cannabis web portal, Merry Jane.
The two-year-old company, which is headquartered in Denver but manufactures its products in Columbis, Ohio, produces child-resistant packaging, cultivation bags, and personal security bags that prevent marijuana odors from escaping. FunkSac also has distribution centers in Ohio and Colorado, and plans to open a third in Oregon.
Fortune hopes to take advantage of laws in states that have mandated child-proof packaging for cannabis products.
“This is very good for us, because we probably have the most popular child-proof products on the market right now,” Fortune told Crain’s.