Cannabis micropropagation company Conception Nurseries has raised $15 million with the addition of $12 million in a Series A funding round.
Viridian Capital Advisors led the effort.
The new financing is expected to help optimize the company’s Sacramento, California facilities.
„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,” Kevin Brooks, Conception’s CEO stated. „The only way to achieve this is through scale and automation.”
This $12 million round adds to the previously raised $3.1 million seed round, which was led by Cresco Capital Partners last year.
While Conception aims to be the principal cannabis plant provider on the West Coast, it is also scaling up operations with a Massachusetts facilities, which is currently under construction.
“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,” Scott Greiper, President and founder of Viridian Capital, stated. „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.”
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