Cannabis tech startup NOBL scores $1.64M Series A to deliver insight for the $32 billion cannabis industry
The growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions has led to explosion of new cannabis related startups. The legalization of medicinal marijuana and decriminalization in some states in the U.S. and other countries around the world, has led to a significant decrease in the black market, as people are resorting to legally purchasing cannabis for medicinal as well as recreational use. But challenges still remain. Many companies still need to jump through the hoops of federal government rules and regulations.
NOBL is one of the leading cannabis data providers. Its platform delivers the knowledge, insight and network that has become fundamental to what is now one of the fastest growing industries in the world. NOBL announced it has raised $1.64M (£1.25 million) Series A led by a number of North America and Europe’s leading cannabis investors including Altitude Investment Management, Artemis Growth Partners and Enexis AB.
“Closing our Series A with the calibre of investors we’ve brought in is indicative of our performance and reputation. We are proven to understand global markets, launch sector leading brands and operate tenacious companies that deliver month on month revenue growth” said Co-Founder, Stephen Murphy, at NOBL’s co-hosted Cannabis Conclave event in Davos.
Michael Goldberg, Partner at Altitude Investment Management, added: “We have been collaborating with the team at NOBL over the last two years and are pleased to invest in this financing round as NOBL continues to shape the future of global cannabis through knowledge and intelligence with its superior data, insights, and networking opportunities.”
NOBL’s portfolio platform features some of the industry’s most well-known companies and brands including Prohibition Partners, NOBL Live, Atalis, Cannabis Europa and European Cannabis Week. The leadership at group and operating company level includes experienced media, technology and event management executives with proven track records in delivering P&L growth and shareholder value.
“We will continue to invest in talent and innovation while also enabling our operating companies to make smarter and more effective business decisions that will shape the future of the global cannabis industry in a meaningful and impactful way,” said Murphy.