NEW YORK (MainStreet) After pitching to potential investors at three ArcView Investor Network events, Ebbu CEO Dooma Wendschuh closed a $2 million round of financing three months ago for his cannabis distillery company.
"Every penny that we've raised has been as a result of ArcView," said Wendschuh, who returned to an ArcView Investor Network conference last month in Denver.
"We're here as a sponsor and to increase awareness of our brand," Wendschuh told MainStreet. Start ups such as Ebbu have received $10 million in known financing deals in the past 16 months, according to ArcView CEO Troy Dayton.
"We have 250 high net-worth accredited investors, which places us in the top ten for all angel investment groups not just cannabis," Dayton said during his opening presentation in the Seawell Grand Ballroom at the Denver Center for Performing Arts. "There's this marked shift in caliber, progress and professionalism each time ArcView meets."
CannaBuild and Hydrogarden Industry Innovations were among the pre-selected entrepreneurs who pitched investors on stage in ArcView's "Shark Tank"-like forum.
"We are up to $225,000 since our first ArcView pitch," said Zachary Marburger, co-founder and CEO of CannaBuild. "We are building a digital support application for cannabis businesses. The bud tenders and retailers are the first line of communication. We are standardizing the process to make it more compliant and uniform."
During his pitch, Hydrogarden Industry Innovation's Josh Mezher informed potential investors about his turbo trimming product designed for growers to cut cannabis roots. "90% of our customers are still using scissors," Mezher told the audience. "We are aiming to raise capital to fill 10,000 orders. Turbo trim allows customers to do what they are doing now but 35% faster and 95% easier."