(Instagram photo via @deweyscientific)
Dewey Scientific, the Pullman, Washington-based agtech startup that leverages genomics, data science, and more to improve the quality and genetic diversity of cannabis plants, has raised $ 3.2 million in new funds.
The Series A cash announced on Monday comes from The Hawthorne Collective, a new cannabis industry investment arm from Scotts Miracle-Gro.
Dewey intends to use the funds to purchase new equipment and expand its research and development. The company will partner with Selway Holdings to secure the use of a proposed $ 1.8 million cannabis greenhouse.
The startup, which provides scientific services and proprietary cannabis genetics to cannabis growers, was founded in 2018 by three PhD plant scientists from Washington State University. Dewey CEO Dr. Jordan Zager and co-founder Dr. Paul Mihalyov studied at the WSU with Dr. Mark Lange, who serves as Dewey’s chief scientific officer. Lange is known as an expert on terpenes, which are fragrant compounds secreted by plants that can play a role in the effects of different cannabis strains on humans.
Zager said in a press release that the company has plans for a new franchise system to partner with breeders in the United States and license its genetics.
Dewey Scientific previously raised $ 1.25 million in a seed round in October 2019. The company has 16 employees and plans to increase the number of scientific staff in the coming months.