Top 10 Cannabis Capital Raises and Investors in the U.S. – October 16^th – November 15^th, 2025

Several interesting transactions closed in the Cannabis sector over the past month. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me.

PIPE

1. Greenlane Holdings, a platform that develops and distributes premium cannabis accessories, vape devices, and lifestyle products, is in talks to receive $110 million of development capital from Blockchain.com, Kraken, CitizenX, dao5, Polychain Capitals and North Rock Digital through a private placement.
2. Herbal Dispatch, cannabis e-commerce platforms in Canada and the US that provides top-quality cannabis to informed consumers at affordable prices, received $1.49 million of development capital through a private placement.
3. Ovation Science, a Canada-based company that provides topical and transdermal cannabis products under the “Ovation” brand label, received $113,577 of development capital through a private placement.

Merger/Acquisition

4. California Love, cannabis-derived consumer products based in Grover Beach, California, was acquired by Central Coast Agriculture.
5. Pleasantrees, cannabis extraction facilities that cultivate premier cannabis, was acquired by Highway Cannabis Co.

Later Stage VC

6. Cellibre, cellular agriculture company that develops sustainable biological products, raised venture funding from Verdant Ventures & Symrise.
7. Highway Cannabis Co., vertically integrated cannabis platform that cultivates and exports adult-use premium cannabis and cannabis products, raised venture funding from Key Investment Partners.
8. Steady State, broad-spectrum cannabinoid products that harness the therapeutic potential of hemp for a variety of applications, raised $4.4 million of venture funding in the form of convertible debt.

Early Stage VC

9. Althea, research tools that manage the introduction of regulated psychedelics into healthcare settings, raised $1 million of venture funding.

Seed Round

10. Kare Chemical Technologies, chemical and pharmaceutical technology company that develops catalytic processes for the commercial production of cannabinoids as active pharmaceutical ingredients, raised $750,000 of pre-seed funding.

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Raheem Suleman

Managing Director

Please contact me if you have any questions or would like to discuss your capital raise:

Email: rsuleman@castleplacement.com

(C) (646) 852-8007

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Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement® does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.