Craft marijuana firm Flow Kana closes $22 million raise

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Marijuana producer and distributor Flow Kana has closed a $22 million funding round as it works to build out its supply chain focused on small craft cannabis farms in Northern California.

The funding round was led by a $15 million investment from Gotham Green Partners, a New York-based private equity firm, according to the company.

To date, Flow Kana has raised $50 million, including investments from Poseidon Asset Management, Salveo Capital and angel investor Roger McNamee, who also invested early in Facebook and has participated in funding rounds for cannabis tech company MJ Freeway in 2015 and 2017.

Flow Kana recently opened the first phase of The Flow Cannabis Institute, which offers a range of processing, co-packing, white label and distribution services to dispensaries and manufacturers.

The latest funding round will allow the firm to expand the Mendocino County-based institute to serve more of Northern California’s independent farmers, the company said.

In connection with Golden Green’s investment, its principal, Michael Henderson-Cohen, will join Flow Kana’s board of directors.