Conception Nurseries Closes Series A Raise Bringing Total Funding to More than $15 Million
(New York, N.Y., July 8, 2020) – Conception Nurseries (“Conception” or the “Company”), a leading provider of tissue culture technology to the cannabis industry, announced that it raised more than $15M with the addition of approximately $12M in its Series A round. The proceeds will be used to operationalize the Company’s state-of-the-art facility in Sacramento, CA.
Viridian Capital Advisors, through broker-dealer, Pickwick Capital Partners, led the financing round.
Conception is an early leader solving some of cultivators’ trickiest problems by bringing tissue culture technology (micropropagation) to the cannabis industry. To date, growers have been dependent on “mom plants” to produce “clones” that deliver inconsistent harvests with diluted and uncontrollable traits. This results in cultivators being unable to accurately forecast production and end users being unable to depend on a consistent experience. Tissue culture technology allows Conception to quickly mass produce identical, disease-free plantlets with customized and consistent profiles. This reduces growers’ operational risks and costs while increasing yields. Conception’s plants will be sold at (or even below) what it costs cultivators to produce them in-house.
Scott Greiper, President and founder of Viridian Capital, stated, “Conception Nurseries, led by its CEO, Kevin Brooks, is at the forefront of the adoption of tissue culture technology as the standard for cannabis cultivators. Conception’s technology, combined with Kevin Brooks’ track record as a growth-company CEO, is why we were excited to represent Conception as a Viridian client.”
Our focus at Conception is not only to provide a far superior plant when compared to traditional propagation, but to do so at or below what it would cost a cultivator to do in house. The only way to achieve this is through scale and automation.
Kevin Brooks, Conception’s CEO
We conducted a global search for partners to bring state-of-the-art, industrial agriculture technology to the U.S. cannabis industry. We thank the team at Viridian Capital for their hard work and perseverance in completing our Series A financing.
About Conception Nurseries
Conception Nurseries, a California-based agriculture-technology company is an early leader solving some of cultivators’ trickiest problems by bringing tissue culture technology (micropropagation) to the cannabis industry which is decades behind Big Ag. To date, cannabis cultivators have been dependent on “mom plants” to produce “clones” delivering inconsistent harvests with diluted and uncontrollable traits. This results in cultivators being unable to accurately forecast production and inconsistent end-users’ experiences. Tissue culture technology, which is widely used in industrial agriculture to address the exact problems cannabis cultivators face today, allows Conception to quickly mass produce identical, disease-free plantlets with customized and consistent characteristics. In turn, this reduces cultivators’ operational risks and costs while increasing their revenues and delivering a dependable end-user experience. For more information, visit https://conceptionnurseries.com/.
About Viridian Capital Advisors
Viridian Capital Advisors (www.viridianca.com) is a financial and strategic advisory firm dedicated to the cannabis market. We are a data- and market intelligence-driven firm that provides capital, M&A, corporate development, and investor relations services to emerging growth companies and qualified investors in the cannabis sector. Our banking practice, through broker-dealer Bradley Woods & Co. Ltd. (Member FINRA/SIPC), provides capital and M&A services to fund the growth of our clients, while our advisory practice helps to position and build their businesses. Our team’s decades of high-level advisory and transactional experience allows us to provide comprehensive strategic and financial solutions that assist cannabis enterprises in realizing their full potential.
About Pickwick Capital
Pickwick Capital Partners, LLC is an independent, middle market investment banking firm providing strategic merger and acquisition advice, special situations advisory, capital raising for fund sponsors and direct placements for companies. Pickwick Capital is headquartered in White Plains, NY, with over 120 associated persons within Investment Banking and Fund Raising. For more information, visit www.pickwickcapital.com.
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