THE owners of a popular annual London cannabis event have secured new investment.
NOBL, a UK cannabis data, conferences and consulting firm, recently closed a Series A funding of €1.48m.
Investors included the New York firm Altitude Investment Management (AIM), Artemis Growth Partners and Enexis AB.
Spun out last year from European Cannabis Holdings NOBL’s brands include, Prohibition Partners, NOBL Live, Atalis, Cannabis Europa and European Cannabis Week.
Stephen Murphy, Founder and CEO of NOBL, said: “We will continue to invest in talent and innovation while also enabling our operating companies to make smarter and more effective business decisions that will shape the future of the global cannabis industry in a meaningful and impactful way.”
The NOBL deal marks the latest foray into the European cannabis industry for AIM following the opening of a London base last year.
2019 also saw a $5.5m investment into Swiss-based KannaSwiss – a supplier of CBD isolates.
The partners say the cash will be used to develop its medical cannabis division, scale-up its extraction operations in both CBD isolate and distillate, and boost marketing and sales.
AIM has been an active investor in North America, with stakes in many industry leading lights including; The Green Organic Dutchman, BDS Analytics and Canndescent.
One of its first European investments was into Spanish company Emmac Life Sciences.