California-based Sorting Robotics, which produces cannabis sorting machines, obtained a $2 million capital raise to aid in expansion, the company announced this week.
The influx of cash is all debt financing, however, from Kiso Capital and Prospeq, according to a press release. The funds will be used to “further accelerate sales and market penetration,” the company said, with CEO Nohtal Partanksy calling the fundraising “crucial.”
“It’s a strategic move that ensures our growth and enables continuous technological advancements to meet market needs,” Partansky said.
Sorting Robotics already offers several marijuana sorting robot models, including “Jiko, the cannabis industry’s first pre-roll infusion robot, Jiko+, a donut-style pre-roll infusion robot, Omni, a desktop vape-cartridge filling machine, and Mayweather, an automated pick & pack robotic arm,” according to the release.
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