Dewey Scientific Raises $3.2M for Cannabis Innovation
Dewey Scientific, an agtech innovator paving the way through the cannabis industry, has just announced it has sold a warrant to purchase Series A preferred units to The Hawthorne Collective. In addition to this development, they will be working with Selway Holdings, who plans to build a $1.8 million cannabis greenhouse.
The funding raised from the Hawthorne Collective, which reached $3.2 million, will go towards the acquisition of cutting-edge equipment and to the market leading genetics R&D. Dewey Scientific leverages genomics, data science, and classical breeding methods to improve the quality and genetic diversity of cannabis crops. This R&D is focused on advancing certain genetics of cannabis varieties to try and highlight desired traits. Some of this funding will go towards hiring new scientific staff to support these R&D efforts.
Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
