American high-tech cannabis packaging company FunkSac has secured an undisclosed amount of funding from Casa Verde Capital.
The company also has secured music celebrity and cannabis advocate Snoop Dogg, who helped raise $25 million for Casa Verde’s launch this June, as a partner. The cannabis packaging company will also work with the rapper, who FunkSac chief executive Garett Fortune said approached them, to promote their products on the musician’s Merry Jane website, adding they will tap into health news and pop culture to promote “a sophisticated cannabis culture”.
FunkSac specialises producing and developing packaging that can contain cannabis odours and is chil-proof. An article on the Merry Jane website said that “[FunkSac] is on the path to reach 3 million in sales for 2015 and projects more than double of that next year”.
Recent cannabis investments have focused on the service sector, rather than production. Greenfield Capital Partners, a cannabis fund, invested $5 million in a company that produces in tracking and reporting software for the legal cannabis market in October. Later than month, Phyto led a $1 million funding round into a data company which described itself as “the Bloomberg of cannabis”.