Israeli cannabis analysis technology developer GemmaCert has announced the completion of a $2.25 Million Series A-1 round led by NEO Ventures, Stony Hill, and Arba Finance, combined with additional seed funding from Aggrinovation. This brings the Tel Aviv-based company’s total funding to over $3 million.
The funds raised will be used to launch GemmaCert, the first truly non-destructive desktop cannabis composition and potency testing solution primarily for professional and home growers, processors and dispensaries. The size of a small kitchen appliance, GemmaCert assures cannabis potency before use, as well as value for money by supporting purchasing decisions. GemmaCert is an eco-friendly and easy-to-use device that combines advanced optics and sophisticated algorithms to analyze whole dry cannabis flower buds, ground cannabis samples and cannabis oils. GemmaCert allows any person to analyze and obtain accurate results in about 30 seconds.
Orna Dreazen, Yaron Penn photo: Eyal Izhar
Israel’s Nextar setting up medical cannabis incubator
German co Tentamus buys Israel’s Analyst Research Labs
Agriculture Ministry to recognize cannabis as farming sector
GemmaCert cofounder and CEO Dr. Guy Setton said, “GemmaCert helps overcome the current challenges posed by the heterogenous cannabis flower, paving the way for personalized and reliable dosing, and providing a solution for the unpredictability associated with cannabis effectiveness. The funds raised will accelerate the execution of our business development plans, boost talent recruitment and drive us to generate first revenues in 2018.”
GemmaCert cofounder and CSO Prof. Oded Shoseyov said, “Achieving a consistent dose is crucial for optimal treatment and patient safety, more so as cannabis turns increasingly popular and acceptable. However, every cannabis flower is unique, differing in terms of composition and potency. That uncertainty challenges effective management for a variety of medical conditions and ailments.”
“We will apply our entrepreneurial capital and global network to accelerate GemmaCert’s growth, as new EU markets continue to adopt medical cannabis legislation and recreational acceptance grows around the world,” said Pavel Ezekiev, Managing Partner of EU based investment fund, NEO Ventures.
“GemmaCert will contribute to setting the vital quality norms which will inevitably become standard practice in the Cannabis industry as already widespread across the health and nutrition world, creating a unique strategic growth opportunity in the fast-emerging cannabis market,” said Chris Bridges, President of Stony Hill.