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Cannabis Beverage Company Cann Raises $27 Million – New Cannabis Ventures

Cannabis Lifestyle Brand, Cann, Raises $27M Series A to Fuel International Expansion

Cann becomes the first micro-dosed THC tonic to go international by launching in Canada, continuing its mission to redefine social consumption

LOS ANGELES – (February 15, 2022) – Cann, the leading cannabis-infused beverage company, today announced a $27 million Series A funding round from new institutional capital, with existing investors like Imaginary Ventures doubling down and a list of new celebrity investors including Nina Dobrev, Adam Devine, Zoey Deutch, Jordan Cooper, Sara Foster and Rosario Dawson. In addition to this significant funding round, Cann is also announcing its first international expansion with the launch of the brand in Canada. Cann’s Canadian expansion and Series A financing follows a year of explosive growth that included a 300% increase in sales and expansion into four new US states: Illinois, Massachusetts and Arizona.

“Over three years ago, we were told that consumers didn’t want cannabis in beverages and that it was a novelty at best, but this fundraiser and our expansion into Canada indicate that microdosed beverages are here to stay,” said Jake Bullock, Co-founder and CEO of Cann. “Adults around the world are desperate for an alternative to alcohol that creates a social buzz and prioritizes flavor, period.”

“We continue to invest in Cann as it has proven it can become a global beverage brand. The creativity behind product innovation and marketing campaigns are best in class for consumer goods,” said Natalie Massenet, co-founder and partner of Imaginary Ventures (whose other consumer investments include SKIMS, Stripe and Brady to name a few).

Cann is known for its micro-dosed THC drinks that aim to change consumers’ relationship with alcohol. Starting today, consumers in Ontario can purchase Cann’s THC Social Tonics, with BC and other provinces launching in the coming months. To produce its award-winning beverages, Cann partners with Truss Beverage Co., a joint venture between MolsonCoors Canada and HEXO, and a leader in the development of cannabis beverages for the Canadian market.

While selling Cann to retailers is as difficult as selling meat in a vegan grocery store, ultimately the consumer votes on the company’s success with their dollar. “And as they keep popping up, the chain is finally starting to realize that they have more crowded stores when Cann owns the fridge. Consumers demand Cann everywhere, and this funding allows us to meet that demand through the channels and borders.

Luke Anderson, co-founder of Cann

With the increasing legalization of cannabis in the United States, Cann has become both the go-to alternative to alcohol and the ideal cannabis entry point for mainstream consumers. Cann exists to redefine social consumption for sober and curious canna consumers. The rise of alcohol alternatives like Cann gives consumers the ability to socialize, free of harmful ingredients, empty calories, and the physical and emotional hangovers caused by alcohol.

“I never considered myself a cannabis enthusiast, and as the co-founder of a publicly traded wine company, I have no problem with alcohol consumption. But the world is changing and I think that more and more people are getting used to responsible polysubstance use – and I’m in an open relationship with Cann and Fresh Vine,” said Nina Dobrev, actress and investor at Cann.

“Cann is a company that prioritizes diversity and inclusion, even if it doesn’t immediately seem to impact its business performance,” said Rosario Dawson, actress and Cann board member. “And in doing so, gain unique distribution opportunities and achieve outsized growth. There are very few other cannabis companies that continue to nearly triple in size every year.

As the fastest growing and fastest selling THC drink on the market, Cann is committed to providing high quality and better alcohol alternatives for you. Each of Cann’s staples includes 2mg of THC and 4mg of CBD and is designed to deliver a light and uplifting social buzz. Unlike most cannabis edibles and drinks, which typically offer higher doses of THC, Cann provides an accessible microdose that gives consumers complete control over their experience. Cann’s Social Tonics are available at select Canadian retailers in their award-winning base flavors: Lemon Lavender, Blood Orange Cardamom, and Grapefruit Rosemary.

Cann’s new celebrity investors Nina Dobrev, Sara Foster, Paul Scheer and Adam Devine join current investors Gwyneth Paltrow, Baron Davis, Rebel Wilson, Kate Hudson, Rosario Dawson, Darren Criss, Casey Niestat, Tove Lo and Bre- Z on Cann’s mission to change the way we think about social consumption. For more information on Cann:

In the US, visit drinkcann.com or @drinkcann on Instagram

In Canada, visit drinkcann.ca or @drinkcannada on Instagram.

About Cann

Founded in Los Angeles by Harvard and Stanford graduates Luke Anderson and Jake Bullock, Cann is the #1 selling THC-infused drink in the world. Since its launch in 2019, Cann has become a growing international brand, winning over canna-curious and sober consumers and redefining social consumption. Cann offers a line of micro-dosed, non-alcoholic beverages that deliver the perfect, uplifting buzz with similar strength to a beer or glass of wine. Vegan, gluten-free and low in calories, each Cann contains five all-natural ingredients. There are no artificial sweeteners or flavors, preservatives or cannabis flavor. Cann’s social tonics won first place at BevNET’s New Beverage Showdown in 2019, following in the footsteps of mainstream grocery products like Health-Ade Kombucha, MALK and RISE Brewing.

The brand is supported by innovative and forward-thinking celebrities with varied backgrounds in wellness, activism and philanthropy, including Gwyneth Paltrow, Kate Hudson, Baron Davis, Rebel Wilson, Rosario Dawson, Darren Criss , Casey Niestat, Tove Lo and Bre-Z. For more information, visit drinkcann.com or @drinkcann on Instagram. For Canada, visit drinkcann.ca or @drinkcannada on Instagram.

About Truss Beverage Co.

Truss Beverage Co. is a joint venture between MolsonCoors Canada and HEXO Corp., a licensed producer of cannabis products in Canada; trained to lead innovation in the development of non-alcoholic cannabis beverages for the Canadian market. The Truss portfolio offers a wide range of products for Canadian legal age consumers, offering a variety of taste experiences for multiple drinking occasions. Truss’ portfolio of brands includes XMG, Little Victory, Mollo, House of Terpenes, Veryvell and Bedfellows Liquid Arts.

Truss Beverage Co. will continue to deliver on its promise to be the cannabis beverage specialist with extraordinary products and marketing that reinforces its commitment to responsible adult consumption.

original press release

Published by NCV Newswire

NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to curate high-quality content and information about major cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis news. The NCV Newswire is hand-curated by an editor and is not automated in any way. Got a confidential news tip? Get in touch.

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