Seedo Corp “Seedo” (OTCQB: SEDO), a high-tech start-up providing the world’s first fully automated and controlled indoor growing machine for the cannabis and agriculture markets, announces $4 million capital raise at a price of $2.75 per share.
The raising was spearheaded by SodaStream CEO Daniel Birnbaum, who recently joined the Company’s Board of Directors and is reinvesting in less than one month since his initial investment.
“We are proud to have created a precedent in attracting institutional investor, and would like to thank Daniel Birnbaum for his renewed expression of faith,” said Zohar Levy, CEO and Director of Seedo. “We are currently creating a strategic mix of investors for the company, including recognized Nasdaq investors, Family office and Wall Street leaders that previously invested in SodaStream.”
Seedo, which specializes in the development of automated cannabis growth technologies, is listed in OTC in the United States. The Company recently announced an agreement it signed with Kibbutz Dan for the establishment of an automated containerized growth farm for medical cannabis in Israel.
The project is expected to produce 14 tons of dry cannabis bud valued at NIS 86 million. The advanced systems used for controlled growth results in quality, uniform, product that is free of bacteria and mold that currently plagues greenhouses.
Seedo Corp. focuses on the development and distribution of home growing automated machines for various herbs and vegetables worldwide. It also develops herbs and vegetables commercial container. The company was founded in 2015 and is based in Yokneam Illit, Israel.