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Australian Cannabis Startup CannVaLate Raises $4 Million In Seven Days In Oversubscribed Series A
Founded little over six months ago, cannabis startup CannVaLate received its licence to sell medicinal marijuana just this month, but it’s already raised $4 million in Series A funding and is about to open its Series B. The startup was targeting $1.5 million through the raise, with a high cap of $4 million, but was oversubscribed within just seven days.
CannVaLate provides a platform connecting suppliers of medicinal marijuana with the doctors who can prescribe it — and therefore the patients who could benefit from it the most.
Co-founder and char Sud Agarwal has a background as a medical doctor, specializing as an anesthetist, and is also former medical director of ASX-listed medicinal cannabis company Cann Group.
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