Marijuana-infused products maker Dixie Brands lands $4M in funding
Dixie Brands, a marijuana-infused products maker in Denver, landed $4 million in its latest funding round.The company is the parent of Dixie Elixirs, which offers a range of cannabis-infused drinks, sweets, topical ointments and other products.
Dixie Brands CEO Chuck Smith said the money will be used for product and distribution expansion, according to BusinessDen.com.
The funding was disclosed in a mid-April filing with the U.S. Securities and Exchange Commission. The filing didn’t identify the investors.
The funding is the first secured by Dixie since co-founder Tripp Keber stepped down as CEO in December.
In 2014, the company closed on its first major funding round for $8 million.
The investment underscores continued growth in the cannabis-infused products sector.
In early April, California-based cannabis infused products manufacturer Plus Products closed on a nearly $6 million Series B capital raise, led by Toronto-based Serruya Private Equity Partners and New York-based Navy Capital Green Fund.
Serruya has also invested in global ice cream and frozen yogurt brands such as Cold Stone Creamery, Pinkberry, Swensen’s and Yogen Fruz.
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