Sorting Robotics Secures $2M in Debt Financing to Accelerate Cannabis Industry Automation
Sorting Robotics, a provider of industrial automation solutions in the cannabis sector, has successfully secured $2 million in debt financing.
The investment comes from Kiso Capital and Prospeq, who are keen to support the company’s growth initiatives across the cannabis industry’s value chain.
The $2 million debt financing will serve as crucial growth capital for Sorting Robotics. It will be channeled towards reinforcing the company’s inventory, aligning with the surging demand for their automation solutions, and boosting working capital to drive enhanced sales and market penetration.
Nohtal Partansky, Co-Founder and CEO of Sorting Robotics, emphasised the significance of this financing, stating, “The debt financing is crucial for Sorting Robotics, providing essential capital that drives our innovation without diluting ownership. It’s a strategic move that ensures our growth and enables continuous technological advancements to meet market needs.”
Damon Doe, Managing Partner at KISO Capital, expressed, “Sorting Robotics is an innovative company that has a fantastic opportunity to provide products that can change an industry. We are happy to be a part of their journey.”
