California-based Demetrix secured $50 million in a Series A funding, which the company will use for research of synthetic cannabinoid production.
The company did not specify which cannabinoids it is focusing on.
The funding round was led by New York-based investment group Tuatara Capital with support from an existing investor, Horizons Ventures of Hong Kong.
Horizons Ventures, which led an initial $11 million Series Seed round in Demetrix, is the private investment arm of Chinese business magnate Li Ka-shing.
More details on the funding can be found in this news release.
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