LOS ANGELES, Oct. 7, 2019 /PRNewswire/ — Viola, a national leader in the production and sale of premium good quality cannabis solutions founded by NBA veteran Al Harrington, these days announced the closing of a $16 million funding round led by Gotham Green Partners. The investment firm, recognized for its economic assistance of some of the most trustworthy cannabis providers in the business, is the very first institutional investment in the business.
This newest round of funding will help with the acquisition of a 34,500 sq. ft cultivation, processing and distribution facility in Adelanto, California as effectively as the completion of Viola’s 48,000 sq. ft facility in Detroit, Michigan. The funds will also allow Viola to continue to advance the development of the business’s personnel with important new hires that will continue to establish Viola as a leader in the cannabis marketplace.
Viola emerged on the scene with a commitment to producing an effect by advertising social equity by means of rising minority participation in the cannabis business and positively impacting communities by reinvesting in people most impacted by the war on drugs. Viola raised $15 million prior to this round of funding, which enabled the business to develop its item offerings and footprint inside the cannabis business. The business is at the moment operating in California, Colorado, Oregon and Michigan, with plans to expand into Maryland, Nevada and Arizona in 2020.
“More than the final 5 years, Viola has been devoted to building and making good quality herbal experiences for our consumers,” stated Al Harrington, CEO of Viola. “With the economic assistance and investment of Gotham Green Partners, our potential to dedicate much more physical space to increasing and cultivating our flowers and group will make the possibilities endless.”
“We are thrilled to be aligned with Viola as the business expands its life style brand into new markets,” stated Jason Adler, Managing Member of Gotham Green Partners. “As the firm’s visionary, Al has effectively launched the notion and subsequently surrounded himself with a best-notch management group. Additional, Al’s background and the business’s mission resonate with a broad and engaged customer base, and we are excited to see Viola solutions on much more retail shelves across the nation.”
Founded in 2011 by NBA veteran Al Harrington, Viola is 1 of the nation’s top producers and licensed wholesalers of premium good quality cannabis solutions. The brand is named soon after and inspired by Al’s grandmother, who suffers from glaucoma and diabetes and finds solace in cannabis treatments.
Viola produces a variety of cannabis solutions catered to people’ palate and demands. From cultivating premium flower to processing butane extracts, Viola manages every single aspect of the production procedure, applying the newest and most verified technologies to guarantee the consistency and good quality of its solutions. Viola is at the moment offered in Colorado, Oregon, Michigan and California.
For much more data on Viola, please go to: https://violabrands.com/
About Gotham Green Partners:
Gotham Green Partners is a New York and California-primarily based private equity firm focused on deploying capital into cannabis and cannabis-connected enterprises on a international scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis worth chain.
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