Integrated CBD raises $50M to build out operations for hemp crops
Integrated CBD maintains approximately 10,000 acres of certified organic land for sustainable farming at scale.
Integrated CBD, Scottsdale, Ariz., announced the closing of $50 million in senior secured debt and a Series A equity round in a combination of debt and equity financing led by a New York-based hedge fund.
Integrated CBD maintains approximately 10,000 acres of certified organic land for sustainable farming at scale. The new funds will be used to build out operations, including completing construction of a 154,000-square-foot extraction facility and a large-scale hemp drying facility, and to expand into the second planting of this year's hemp crop. Expanding the sales and marketing effort through new hires in product development and sales will also be key areas of growth.