One of Minnesota’s two medical cannabis producers has raised another $2.5 million, according to a filing with the U.S. Securities and Exchange Commission.
The raise, by LeafLine Labs, comes on top of $12.4 million the company landed late last year. To date, LeafLine has raised $14.9 million – just $176,000 short of its goal.
The recent round of funding signals that investors are still interested in Minnesota’s medical marijuana market, despite the slow start to the state’s industry due in large part to a low patient count. The number of investors in the company now stands at 141, an increase from 113 in December.
The other licensed company – Minnesota Medical Solutions, also known as MinnMed – closed a $16.6 million round of funding earlier this year.