Altum Investments, the parent company of Coda Signature, just announced the closure of its $24.4 million Series A funding. Coda Signature is a manufacturer of cannabis-infused edibles, concentrates and topicals. However, the company is best known for its luxury cannabis-infused chocolates and truffles. Leading this investing round was Granite Hall Partners. However, there was participation from Salveo Capital, MAZAKALI, and Gotham Green Partners.
The Chief Investment Officer of Granite Hall Partners, J. Patrick Barry said, “We partner with cannabis companies that are emblematic of the industry’s potential, and our investment in Coda Signature is a perfect example of that theme in action. The Coda team is truly exceptional and they have constructed a terrific brand, product line, facilities and reputation in the industry.”
The proceeds from the funding will be channeled into strategic addition to the management team as well as push for the expansion of the brand into other North American markets. Consequently, Coda Signature California is set to launch operations from its 20,000 square-foot facility in Oakland in July. This will create over 50 jobs before the end of the year. Coda Signature currently has a license to operate in Colorado and California.
Also commenting on the investment round was the Managing Member of Gotham Green Partners, Jason Adler. Jason said, “We are excited to partner with Coda Signature in this investment round. The Coda management team has clearly demonstrated its ability to succeed in the Colorado market; with differentiated and award-winning products. We are excited to see Coda Signature edibles, topical and concentrates on the shelves in California this fall.”
Members from the other participating firms in the funding round also had a word to spare. Managing Partner of Salveo Capital, Michael Gruber, said, “As the regulatory environment continues to evolve, companies that are in market, executing and delivering results will be increasingly valuable. We are confident that Coda Signature has what it takes to excel in the quarters to come.”
The growth momentum of Coda Signature makes it a great investment option. To date, the company has bagged about 17 industry awards. Furthermore, the company has hit the number 1 rank for adult-use edibles in Colorado. MG Retailer recognizes Coda Signature as one of the top 50 places to work in cannabis.
The Co-Founder and President of Altum Investments and Coda Signature, Elizabeth Cooke said, “The growing momentum behind the legal cannabis movement is astonishing. This completion of our Series A funding round will accelerate our efforts to take full advantage of this unique moment in history.”
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