About Canndescent
Canndescent is a company based in Santa Barbara (United States) founded in 2015 was acquired by Power REIT in February 2021.. 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. Canndescent operates in a competitive market with competitors including LeafLink, Confident Cannabis, Tractor Zoom, Maalexi and Tridge, among others.
- Headquarter Santa Barbara, United States
-
Sectors
RetailAgriculture
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Canndescent Mbc
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$57 M (USD)
in 4 rounds
-
Latest Funding Round
$27.5 M (USD), Series C
Sep 10, 2019
-
Investors
Power REIT
& 7 more
-
Employee Count
Employee Count
- Investments & Acquisitions
-
Acquired by
Power REIT
(Feb 04, 2021)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Unlock access to complete
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 Total Funding
- Total Rounds 4
- Last Round Series C — $27.5M
-
First Round
First Round
(31 Aug 2016)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2019 | Amount | Series C - Canndescent | Valuation | Green Acre Capital | |
| Sep, 2018 | Amount | Series C - Canndescent | Valuation | Merida Capital Partners | |
| Jan, 2018 | Amount | Series B - Canndescent | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. 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 |
|---|---|---|---|---|
|
Green Acre Capital is focused on cannabis industry investments.
|
Founded Year | Domain | Location | |
|
Investments are focused on the emerging global cannabis industry.
|
Founded Year | Domain | Location | |
|
Investment services are offered in healthcare and cannabis sectors.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Canndescent
Canndescent has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Veuve Clicquot. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Champagne is produced and marketed globally by Veuve Clicquot.
|
1772 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Canndescent
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Canndescent Comparisons
Competitors of Canndescent
Canndescent operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as LeafLink, Confident Cannabis, Tractor Zoom, Maalexi and Tridge, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online marketplace platform for cannabis traders
|
|
| domain | founded_year | HQ Location |
Online platform for cannabis producers
|
|
| domain | founded_year | HQ Location |
Online listing platform for farm equipment
|
|
| domain | founded_year | HQ Location |
Farm products are traded via an online B2B marketplace.
|
|
| domain | founded_year | HQ Location |
Farm products are traded via an online B2B marketplace.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Canndescent
Frequently Asked Questions about Canndescent
When was Canndescent founded?
Canndescent was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Canndescent located?
Canndescent is headquartered in Santa Barbara, United States. It is registered at Santa Barbara, California, United States.
Is Canndescent a funded company?
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 Series B of $10M, raised on Aug 31, 2016.
What does Canndescent do?
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.
Who are the top competitors of Canndescent?
Canndescent's top competitors include LeafLink, Confident Cannabis and Nabis.
How many acquisitions has Canndescent made?
Canndescent has made 1 acquisition, including Veuve Clicquot.
Who are Canndescent's investors?
Canndescent has 8 investors. Key investors include Power REIT, Green Acre Capital, Altitude Investment Management, Senterra, and JW Asset Management.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.