Marijuana firm Holistic Industries raises $55 million

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Washington DC-based Holistic Industries, a multistate cannabis operator, closed $55 million in financing at a time when many other MJ firms are struggling to raise capital.

Holistic Industries plans to use the $55 million to “accelerate expansion” and to better serve patients and consumers who use its cannabis products, the company said in a statement.

The privately held firm, which currently operates in five states and the District of Columbia, did not immediately respond to Marijuana Business Daily for details on the source of its funding and details on how it plans to use the money.

In 2017, Holistic Industries raised $3 million from a pair of investment firms with ties to Florida’s medical marijuana market.

In addition to the District of Columbia, the company has operations in:

  • California.
  • Maryland.
  • Massachusetts.
  • Michigan.
  • Pennsylvania.

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