Los Angeles-based Future State Brands, a consumer brands cannabis holding company, received $25 million of funding led by Cresco Capital Partners.
Future State Brands has a portfolio of hemp, THC and CBD brands in a variety of sectors including beverage, clothing and cosmetics.
The proceeds will be used by the holding company for product development and potential acquisitions.
Dallas-based Cresco Capital is a cannabis-focused investment group which has allocated at least $85 million to the industry since its inception in 2014.
More details on the funding can be found here.
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Written by Nick Thomas
Marijuana Business Daily