About Canndescent
Canndescent is a Retail company based in Santa Barbara (United States) founded in 2015, and was acquired by Power REIT in February 2021. Integrated business for cultivation and processing of cannabis. It operates in the Retail and Agriculture sectors. Canndescent has raised $57 million across 4 funding rounds from investors including Power REIT, Green Acre Capital and Altitude Investment Management. Canndescent has completed 1 acquisition, including Veuve Clicquot. Its focus areas include Food and Agriculture Tech, Crop Tech, ECommerce and Farm Produce. Its legal entity is Canndescent MBC. Its competitors include LeafLink, Confident Cannabis and Tractor Zoom; 3 of its 3 listed competitors have raised funding.
Company details
Canndescent was founded in 2015 in Santa Barbara, United States, as an integrated operation in the cannabis sector. Cannabis strains are cultivated in micro grow rooms within a solar-powered indoor facility. Processed products, including flower and rolls, are supplied to consumers for medicinal purposes. The focus remains on controlled production to meet market demands in the region.
- Headquarters Santa Barbara, United States
- Stage Acquired
- SectorsRetailAgriculture
- Email••••••••
- Phone•••• ••••
- Website canndescent.com
- Social LinkedIn X Facebook
- Acquired by Power REIT (Feb 2021)
- Legal Name Canndescent Mbc
- Total Equity Funding$57M (USD)
in 4 rounds
- Latest Funding Round$27.5M (USD), Series C
Sep 2019
- InvestorsPower REIT
& 7 more
- Investments & Acquisitions
- Acquired byPower REIT
(Feb 2021)
Funding Insights of Canndescent
Canndescent has successfully raised a total of $57M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $27.5 million completed in September 2019. 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 $57M
- Total Rounds 4
- Last Round Series C — $27.5M
- First Round $6.5M
(Aug 2016)
- Investors Count 7
All 4 funding rounds of Canndescent with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2019 | $27.5M | Series C | – | Green Acre Capital | |
| Sep 2018 | $13M | Series C | – | Merida Capital Partners | |
| Jan 2018 | $10M | Series B | – | – | |
| Aug 2016 | $6.5M | Seed | – | – | – |
8 investors in total: 8 institutional.
Investors in Canndescent
Canndescent has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include Power REIT, Green Acre Capital and Altitude Investment Management.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Green Acre Capital is focused on cannabis industry investments. | greenacrecapital.ca | Canada | ||
Investments are focused on the emerging global cannabis industry. | altitudein.com | |||
Investment services are offered in healthcare and cannabis sectors. | jwfunds.com | |||
| meridacap.com | ||||
Floret Ventures is focused on investing in technology entrepreneurs. | floretventures.com | San Francisco, United States | ||
| altitudepartners.co.uk | ||||
Investment group partnering on thoughtful investments and supporting family-oriented operations. | 1989 | senterrallc.com | Houston, United States | |
Investments are focused on energy and transportation infrastructure properties. | 1965 | pwreit.com | Old Bethpage, United States |
Investor details for Canndescent
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- Round participation
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People of Canndescent
11 people are tracked at Canndescent (2 in leadership, 9 in team).
| Name | Role | Group |
|---|---|---|
Spencer T. | Senior Director Of Business Development | Leadership |
Anjali R. | VP Of Finance | Leadership |
Andrea Carson | Cultivation Manager | Team |
Salvatore Gelardi | Cultivation Manager | Team |
Sasha Bacca (Anastasia) | Production Manager | Team |
Brad Wilson | Cultivation Manager | Team |
Dayne Asaro | Irrigation Specialist | Team |
Rachna M. | Senior Accountant | Team |
Cody Boyd | Laboratory Technician | Team |
Jake Hesselgrave | Cultivation Technician 2 | Team |
Danielle Barnes | Cannabis Brokerage Manager | Team |
Complete people profiles for Canndescent
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Investments & Acquisitions by Canndescent
Canndescent has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Veuve Clicquot.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Champagne is produced and marketed globally by Veuve Clicquot. | veuveclicquot.com | New York, United States | 1772 | Apr 2018 | •••• |
Complete acquisition details for Canndescent
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
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Timeline of Canndescent
5 dated milestones of Canndescent across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Canndescent is founded.
- Funding First funding round of $6.5M.
- Acquisition Acquires Veuve Clicquot.
- Funding Latest funding round, Series C, of $27.5M.
- Exit Acquired by Power REIT.
Competitors of Canndescent
Canndescent has 3 listed competitors in our database, 3 of them funded. They include LeafLink, Confident Cannabis and Tractor Zoom.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| leaflink.com | 2015 | New York, United States | $195.4M | Online marketplace platform for cannabis traders | ||
| confidentcannabis.com | 2014 | Palo Alto, United States | $15.12M | Online platform for cannabis producers | ||
| tractorzoom.com | 2017 | Ames, United States | $25.13M | Online listing platform for farm equipment |
Detailed competitors of Canndescent
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- Full competitor set
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Top companies in Food & Grocery Retail
3 companies that operate in the same segment as Canndescent (Food & Grocery Retail) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Food and grocery deliveries are facilitated through an app-based platform. | 2013 | San Francisco, California, United States | USD 2.5 B | USD 10.72 B | 80,579 | |
Organic groceries are offered through an online membership platform. | 2013 | Los Angeles, California, United States | USD 332.18 M | |||
Online marketplace platform offering multi-category grocery products | 2012 | San Francisco, California, United States | USD 2.93 B | USD 3.74 B | 25,408 |
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Related news about Canndescent
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Frequently Asked Questions about Canndescent
Canndescent was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Canndescent is headquartered in Santa Barbara, United States. It is registered at Santa Barbara, California, United States.
Canndescent is a funded company, having raised a total of $57M across 4 funding rounds to date. The company's 1st funding round was a Seed of $6.5M, raised on Aug 2016.
Canndescent was founded in 2015 in Santa Barbara, United States, as an integrated operation in the cannabis sector. Cannabis strains are cultivated in micro grow rooms within a solar-powered indoor facility. Processed products, including flower and rolls, are supplied to consumers for medicinal purposes. The focus remains on controlled production to meet market demands in the region.
Canndescent's top competitors include LeafLink, Confident Cannabis and Tractor Zoom.
Canndescent has made 1 acquisition, including Veuve Clicquot.
Canndescent has 8 investors. Key investors include Power REIT, Green Acre Capital, Altitude Investment Management, Senterra, and JW Asset Management.
Canndescent operates through Canndescent Mbc.
Yes. Canndescent was acquired by Power REIT in February 2021.