Seedo, a high-tech start-up providing a fully automated and controlled indoor growing machine for the cannabis and agriculture markets, announces $4 million capital raise at a price of $2.75 per share.
The raising was spearheaded by SodaStream CEO Daniel Birnbaum, who recently joined the company's Board of Directors and is reinvesting in less than one month since his initial investment.
"We are proud to have created a precedent in attracting institutional investors, and would like to thank Daniel Birnbaum for his renewed expression of faith," said Zohar Levy, CEO and Director of Seedo. "We are currently creating a strategic mix of investors for the company, including recognized Nasdaq investors, Family office and Wall Street leaders that previously invested in SodaStream."
Seedo, which specializes in the development of automated cannabis growth technologies, is listed in OTC in the United States. The company recently announced an agreement it signed with Kibbutz Dan for the establishment of an automated containerized growth farm for medical cannabis in Israel. The project is expected to produce 14 tons of dry cannabis bud valued at NIS 86 million.