Tress Invests in iCAN to Connect Weed Ecosystem - via Kannabi
CANNABIS, WEED, NEWS
The global cannabis market became more interconnected as the American based investment company Tress Capital’s strategic investment into the Israel based iCAN Israel-Cannabis.
Israel is a leader in medical cannabis research and has been the incubator for many developments in the industry.
Tel Aviv hosts a CannaTech conference every year, bringing senior industry leaders, medical and scientific experts, and new ventures to together to promote innovation, partnerships, and the exchange of knowledge.
The investment announcement was made at the recent Cape Town CannaTech.
“We are proud to be long-term sponsors of CannaTech and to advance our relationship with a strategic investment in iCAN,” Asher Troppe and David Hess, Co-founders at Tress Capital said.
“Saul and his team have always had their finger on the pulse of the global cannabis ecosystem and like us support Israel's continued leadership in the medical and technology-based cannabis markets… Tress and iCAN both believe in a responsible approach to the rollout of the cannabis industry, and working together we will continue to lead in this mission globally."
The hope is that the investment funds will be used to grow the global CannaTech footprint and incubate cannabis-related businesses. Which is fitting to be announced in Africa, one of the largest emerging cannabis markets.
The country has expansive farmland and an ideal climate for cannabis cultivation. Since South Africa legalized the production and exportation of medical cannabis in 2017 the country has been the center of a “green rush.”
It’s just one more country in the global cannabis ecosystem that iCAN and Tress have been working to shape and grow.