Sera Labs Inc. has received a $5 million investment from the Canadian cannabis private equity fund ToroVerde Inc., according to the company.
The Encino-based company specializing in cannabis CBD oil generated more than $2 million in online sales since the brand’s launch in July 2018. Sera’s products include skin creams, pain relief oils, capsules and gummies.
A new multi-channel approach to effectively reach consumers for these varied needs is set to hit retail stores sometime this year, the company said in a press release.
“We are building this company by gaining consumer trust through an educational process and bringing quality products to market with an unprecedented marketing campaign,” said Nancy Duitch, chief executive of Sera Labs. “Partnering with ToroVerde ensures we can continue bringing our customers an unparalleled standard of excellence with their domestic and international key connections.”