The leading cannabis analytics and data provider, Headset, completed their Series A round of financing with $12.1 million in total. This funding comes from a group led by AFI Capital Partners as well as Poseidon Asset Management, with participation from cannabis-focused investment firm Canopy Rivers Inc. Its timing is critical for the company to capitalize on the strong demand for actionable and reliable information on the growing cannabis industry.
The funds are set to improve current services and products, expand Headset’s U.S. and international offerings, and continue supporting strategic alliances and partnerships. The investment round also continues the relationship between Headset and Poseidon and AFI, with Poseidon functioning as a prominent firm in cannabis investment, and AFI bringing extensive operating and investing experience within the cannabis industry to the table.
“Each one of our investors brings invaluable industry knowledge and a strong network of portfolio companies that enable us to collaborate in all new ways,” said Headset CEO and co-founder Cy Scott. “The new capital will fuel future growth, new market expansion and enhanced product development, continuing to ensure our leadership position within the cannabis industry.”
AFI’s Managing Director, Nico Richardson, praised Headset’s delivery of comprehensive and dynamic analytics in a press statement, saying that data is a key to success in any industry. Between AFI, Canopy Rivers, and Poseidon, Headset has access to a broad network across the U.S., Canada, and international cannabis markets to position themselves for the future.
