About AltMed
AltMed is a company based in Sarasota (United States) founded in 2014 by R Michael Smullen was acquired by Verano in November 2020.. AltMed has raised $39.54 million across 5 funding rounds from investors including Verano, Origin House and Elixinol.
- Headquarter Sarasota, United States
- Founders R Michael Smullen
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Sectors
Consumer
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Email
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Phone
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Website
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Social
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Funding Insights of AltMed
AltMed has successfully raised a total of $39.54M across 5 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Last Round
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First Round
First Round
(01 Jun 2015)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Apr, 2019 | Amount | Series B - AltMed | Valuation | Elixinol |
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| Apr, 2018 | Amount | Series B - AltMed | Valuation |
investors |
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| Aug, 2017 | Amount | Series A - AltMed | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in AltMed
AltMed has secured backing from 4 investors, including institutional investors. Prominent investors backing the company include Verano, Origin House and Elixinol. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Invests in multifamily real estate and private equity in operating businesses.
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Founded Year | Domain | Location | |
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Cannabis distribution and brand development services are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by AltMed
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - AltMed
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Altmed Comparisons
Competitors of AltMed
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about AltMed
When was AltMed founded?
AltMed was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is AltMed located?
AltMed is headquartered in Sarasota, United States. It is registered at Sarasota, Florida, United States.
Who is the current CEO of AltMed?
R Michael Smullen is the current CEO of AltMed. They have also founded this company.
Is AltMed a funded company?
AltMed is a funded company, having raised a total of $39.54M across 5 funding rounds to date. The company's 1st funding round was a Series A of $10.5M, raised on Jun 01, 2015.
What does AltMed do?
AltMed was founded in 2014 in Sarasota, United States. Operations are conducted in the medical cannabis sector, where cannabis-based products and treatment services are supplied to patients. Focus is placed on therapeutic applications within healthcare. Services encompass product distribution and clinical treatments. Geographic activities are centered in the United States, supporting medical needs through established facilities.
Who are AltMed's investors?
AltMed has 4 investors. Key investors include Verano, Origin House, Elixinol, and MainLine Investment Partners.
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