AceCann Secures $15M USD in Seed Funding for Premium Medicinal Cannabis
AceCann, a Portuguese medical cannabis company, announced the closing of their latest seed funding round. The round, which was led by venture firm Casa Verde with participation from Portuguese venture capital firm Lince Capital, along with public funding and debt capital, successfully raised $15M (USD).
The funding will support the company as they develop a state-of-the-art production facility in Vendas Novas, Portugal dedicated to the organic cultivation, processing and extraction of premium medical cannabis products. This will be the first premium, organic flower and extracts available to Europe.
AceCann has made a name for themselves with their unique cultivation and pharmaceutical manufacturing processes. They focus on smaller, scalable, indoor farming methods that allow the company to precisely manage temperature, humidity, and all variables that impact the plant quality.
The company is set on disrupting the European market with high-quality medicinal products. They have committed themselves to excellence in innovation since their founding in 2019. This effort has paid off, with the company becoming the first in Portugal to be awarded an R&D certificate of suitability by the National Innovation Agency.
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Research and development is the engine of economic growth in an increasingly knowledge-based global economy, however more investment is needed to help boost human creativity, innovation and economic output.
Swanson Reed is one of Portugal’s largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
To find out more about R&D or to determine the eligibility of your business for receiving an R&D tax credit, contact a Swanson Reed R&D Tax Advisor today.
