New funding: Seattle-based SōRSE Technology has raised $2 million to further innovate and scale its water-soluble emulsion technology used to blend cannabinoids more seamlessly into beverages, food and topicals.
The tech: Founded in 2016 by tech veteran Howard Lee, SōRSE has been riding the wave of interest around CBD- and THC-infused products. Its patent-pending technology is designed to improve quality, consistency and experience. SōRSE is not a cannabis company, it’s a food technology company that works with cannabis companies who license its technology, in powder or liquid form, to make their own products that are sold in stores.
Continued growth: SōRSE now employs more than 60 people, including a 30-person research and development team comprised of scientists and product developers. In the past year, SōRSE added six new product offerings and serves more than 100 clients across North America, South America, Europe, Asia, and Australia.
Investors: The new cash comes from private equity firm Merida Capital Holdings as part of a convertible note. SōRSE anticipates completing fundraising of another $2 million for the note in May. Merida has holdings across the cannabis industry.
Last word: “With THC and CBD beverages poised for explosive growth, SōRSE is a clear market leader with best-in-class technology, the broadest array of product offerings, and the capability to customize solutions for any beverage type,” Merida partner David Goldburg said in a statement:
Previously: This secretive Seattle startup just raised $5M to infuse its tech into the CBD and cannabis craze
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