Cannabis beverage startup Cann raised $27 million in Series A from Nina Dobrev, Adam Devine & others
Cannabis beverage startup Cann raised $27 million in Series A from some new and unnamed institutional investors, past investor Imaginary Ventures and a host of celebrity influencers including stars like Nina Dobrev, Zoey Deutch and Rosario Dawson, among others.
Cann's gimmick is low-THC drinks that customers can consume in small quantities without becoming excessively stoned. Their standard product is an 8-ounce can with 2mg of THC and 4mg of CBD. For the time being, Cann may be too expensive to compete directly with the entire market of beer or spiked seltzer drinkers. A 6-pack of the 8-ounce beverages costs $20 (at least in the California market), but is significantly more expensive due to steep state Cannabis taxes. The company has a fairly diverse product offering with varying market availability including THC-infused syrups that can be mixed with tonic or used as an ingredient in Cannabis cocktails.