Illinois-based Cannect Wellness today announced the successful completion of its second round of funding, securing $7 million in fresh capital. This latest round brings the company's total equity funding to $14.5 million.
With this additional funding, Cannect Wellness plans to double down on its "quality over quantity" approach while accelerating the scaling of its production capabilities and investing in the development of new products.
"We are thrilled to have the support of our investors as we continue to grow and push the boundaries of what a craft cannabis company can achieve," said Gabe Singal, CEO and Co-Founder of Cannect Wellness. "This round of funding will allow us to reach more customers, improve our processes, and maintain our focus on high standards of quality and sustainability."
Cannect Wellness plans to use the funds to increase its production capacity, expand its product portfolio, and double the size of its team. The company also plans to launch new brands and evaluate other expansion opportunities that align with its mission of providing the best cannabis experiences for consumers in Illinois.
