Sorting Robotics, a leading provider of industrial automation solutions for the cannabis industry, has recently secured $2 million in debt financing from investment groups Kiso Capital and Prospeq. This funding will serve as a catalyst for the Los Angeles-based company’s growth and expansion efforts across the cannabis industry’s value chain.
The $2 million debt financing will be strategically allocated to bolster the inventory of Sorting Robotics’ automation solutions and meet the growing demand in the market. Additionally, the funding will enhance the company’s working capital, allowing for accelerated sales and market penetration.
Nohtal Partansky, co-founder and CEO of Sorting Robotics and former NASA Jet Propulsion Lab engineer, emphasized the significance of the debt financing, stating, “It’s a strategic move that ensures our growth and enables continuous technological advancements to meet market needs.” This financing not only provides the essential capital for innovation but also enables Sorting Robotics to maintain full ownership and control of their company.
Sorting Robotics is renowned for its automation solutions tailored specifically to the cannabis industry. Their product lineup includes 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. These cutting-edge solutions streamline processes and improve efficiencies for cannabis operators, contributing to the company’s success.
The investment from Kiso Capital and Prospeq highlights their confidence in Sorting Robotics’ potential to revolutionize the cannabis industry. Damon Doe, managing partner at Kiso Capital, expressed excitement about being a part of Sorting Robotics’ journey, acknowledging the company’s innovative nature and the transformative impact their products can have on the industry.
With this significant funding, Sorting Robotics is well-positioned to further advance their technological solutions and stay at the forefront of innovation in the cannabis automation space.
What is Sorting Robotics?
Sorting Robotics is a provider of industrial automation solutions for the cannabis industry, specializing in streamlining processes and improving efficiencies for cannabis operators.
Who invested in Sorting Robotics?
Sorting Robotics secured $2 million in debt financing from investment groups Kiso Capital and Prospeq.
What will the funding be used for?
The funding will be allocated towards bolstering inventory to meet increasing demand for Sorting Robotics’ automation solutions and enhancing the company’s working capital to accelerate sales and market penetration.
What are Sorting Robotics’ notable products?
Sorting Robotics offers various automation solutions, including Jiko, Jiko+, Omni, and Mayweather, designed to streamline processes in the cannabis industry.
What is the significance of this funding?
The funding highlights Sorting Robotics’ potential to revolutionize the cannabis industry and enables the company to maintain full ownership and control while driving continuous innovation.