Boundless Brands, a leading provider of premium cannabis products, has recently announced that it has secured $2.5 million in seed funding to expand its business operations. The funding round was led by Poseidon Asset Management, a cannabis-focused investment firm, and included participation from other investors such as Thirty Five Ventures, Casa Verde Capital, and Sinai Ventures.
The new funding will be used to accelerate Boundless Brands’ growth strategy, which includes expanding its product offerings, increasing its distribution network, and investing in marketing and branding initiatives. The company plans to launch new product lines in the coming months, including edibles, topicals, and vape cartridges.
“We are thrilled to have the support of such a strong group of investors who share our vision for the future of the cannabis industry,” said Casey Ly, CEO of Boundless Brands. “This funding will allow us to continue to innovate and bring high-quality products to consumers across the country.”
Boundless Brands was founded in 2019 by a team of experienced cannabis industry professionals who saw an opportunity to create a premium brand that would appeal to both new and experienced cannabis users. The company’s flagship brand, Rove, is known for its high-quality vape cartridges that are made with pure cannabis oil and natural terpenes.
Since its launch, Rove has become one of the most popular vape brands in California, with products available in over 700 dispensaries across the state. The brand has also expanded into other markets, including Nevada and Oklahoma.
With the new funding, Boundless Brands plans to expand its distribution network even further, with a focus on entering new markets in the coming months. The company also plans to invest in marketing and branding initiatives to increase awareness of its products and build a loyal customer base.
“We believe that Boundless Brands has the potential to become a leading player in the cannabis industry,” said Morgan Paxhia, Managing Director of Poseidon Asset Management. “Their focus on quality and innovation has already made them a standout brand, and we are excited to support their continued growth.”
Overall, the $2.5 million in seed funding is a significant milestone for Boundless Brands and a testament to the company’s potential for success in the cannabis industry. With a strong team, innovative products, and a clear growth strategy, Boundless Brands is well-positioned to become a major player in the rapidly growing cannabis market.
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