Green Dot Labs Announces Strategic Partnership With Tuatara Capital
Strategic and Financial Partnership Strengthens Premium Operator’s Leadership in High-Growth Concentrate Market
DENVER, Sept. 12, 2017 /PRNewswire/ — Green Dot Labs, a Boulder, Colo.-based producer of fine cannabis extracts, announced today the closing of its Series A round with a $3.3 million lead investment from Tuatara Capital, L.P.
Tuatara Capital’s strategic partnership with Green Dot Labs reflects a shared commitment to innovation and integrity in the cannabis sector.
To date, Green Dot Labs has focused on developing quality-driven indoor cultivation and extraction methodologies and delivering high-end products to the Colorado market. Tuatara shares our commitment to producing quality cannabis products as well as our vision for innovation and regulatory leadership.
Green Dot Labs Co-Founder and CEO Alana Malone
We are confident that our partnership with Tuatara will support our company in reaching its full potential as a leader and standard-bearer in cannabis and concentrate production.
Concentrates are currently the fastest-growing product segment in the cannabis industry, occupying the #2 share position overall. In 2016, recreational sales in this category reached combined sales of $498.8 million and grew by 83.9% in Colorado, Washington, and Oregon. Within this fast-growing market segment, Green Dot Labs is a name that represents long-term leadership in premium extract production. Since its founding in 2014, the company has established a strong reputation among dispensaries and patients for its connoisseur-grade extracts. Black Label Nectar, Green Dot Labs’ top-selling product line, features an unmatched variety of proprietary genetics cultivated using advanced horticultural practices.
Beyond the capital investment, Green Dot Labs’ partnership with Tuatara will provide them with a cannabis-focused strategic advisor and the ability to leverage Tuatara’s deep network of relationships. The Series A funding will primarily be used to optimize Green Dot Labs’ cultivation