NBA veteran Al Harrington’s Viola closed on a $16 million funding round led by Gotham Green Partners. This is the first institutional investment in the company.
The company said that this latest round of funding will assist with the acquisition of a 34,500 sq. ft cultivation, processing and distribution facility in Adelanto, California as well as the completion of Viola’s 48,000 sq. ft facility in Detroit, Michigan. The funds will also enable Viola to continue to advance the growth of the company’s personnel with key new hires that will continue to establish Viola as a leader in the cannabis marketplace.
“Over the last five years, Viola has been dedicated to creating and producing quality herbal experiences for our customers,” said Al Harrington, CEO of Viola. “With the financial support and investment of Gotham Green Partners, our ability to dedicate more physical space to growing and cultivating our flowers and team will make the possibilities endless.”
Viola was founded in 2011 by NBA veteran Al Harrington. The brand is named after and inspired by Al’s grandmother, who suffers from glaucoma and diabetes and finds solace in cannabis remedies.
Viola makes a range of cannabis that range from cultivating premium flower to processing butane extracts. Viola is currently available in Colorado, Oregon, Michigan and California.
“We are thrilled to be aligned with Viola as the company expands its lifestyle brand into new markets,” said Jason Adler, Managing Member of Gotham Green Partners. “As the firm’s visionary, Al has successfully launched the concept and subsequently surrounded himself with a top-notch management team. Further, Al’s background and the company’s mission resonate with a broad and engaged consumer base, and we are excited to see Viola products on more retail shelves across the country.”
Gotham Green Partners has been deploying capital in the cannabis space with a presence in both New York and California.
Written by Debra Borchardt
Green Market Report