Capital Infusion for Expansion of Sales, Marketing and Product Development
LOS ANGELES, Sept. 20, 2018 /PRNewswire/ — F/ELD, a premium, award-winning cannabis company focused on the acquisition, development and monetization of the highest quality products, is pleased to announce the completion of a $6 million funding round and subsequent, correlating expansion. The $6 million equity raise has been obtained through a consortium of leading cannabis investors. Each financier brings significant capital and a wealth of experience and relationships to expedite F/ELD’s execution of its unique and proprietary business model.
Notable investors include Navy Capital, an Investment Fund focused on the cannabis sector led by Managing Partners Sean Stiefel and John Kaden, veteran cannabis executives Eitan Popper, Igor Gimelshtein, and Tarik Ouass of MedReleaf, who had the largest cannabis exit to date when they sold to Aurora for $2.9 billion (C$3.2 billion), and Serruya Private Equity, who are the largest equity holders in Liberty Health Sciences, founding investors of Aphria, owners of Pinkberry, and founders of Yogen Fruz. F/ELD has also established a world class advisory board including Richard Kimball, former Partner at Goldman Sachs and Senior Trustee at The Brookings Institution, as well as Joshua Zad, Founder and CEO of Alfred Coffee and Alfred Tea.
F/ELD has an experienced and dynamic management team with a multitude of major successes in the legal cannabis space. Joe Andreae, President of F/ELD has thirteen years of experience in the industry and was the Co-Founder of GrowLife Inc, Vape Holdings, and Madrone Cannabis Company. Adam Gillman, CEO and Co-Founder, and Bert Culha, CMO and Co-Founder, previously founded Cycle House – a Los Angeles-based fitness company. Adam’s background is in the technology sector and Bert has more than ten years experience in the design and hospitality industries.
The capital infusion will be used to finance expansion throughout the U.S., scale operations in California, and bring further to market an acclaimed and award-winning product line which has achieved the following accolades in the last year alone:
1st Place Wins
1) Masters Of Rosin, Barcelona Spain
-Best Hash Rosin and Best Overall
2) High Times Cannabis Cup, Amsterdam Netherlands
3) Chalice Festival, Los Angeles CA
-Best Hash Rosin
-Best Sativa Rosin
2nd Place Wins
1) High Times Cannabis Cup, Sacramento CA
-Solventless Hash Category
3rd Place Wins
1) Chalice Festival, Los Angeles CA
“We have an award winning suite of products in a highly desirable, rapidly growing segment of the cannabis industry and we’re now empowered by an invaluable strategic cash infusion to scale our business,” said Adam Gillman, CEO of F/ELD.
F/ELD is a Los Angeles-based cannabis brand focused on the “ultra premium” portion of the cannabis market. With the recent explosive growth in consumer facing brands for the cannabis industry, there have been a plethora of companies coming to market with products targeted towards the “mainstream” recreational consumer. F/ELD focuses on the upper echelon – customers who are focused on quality above all else. Led by a team with a combined 30+ years of experience in the cannabis industry, F/ELD is primed to be a market leader in the multi billion dollar cannabis industry.