A provider of industrial automation solutions for the cannabis industry, Sorting Robotics, secured $2 million in debt financing from investment groups Kiso Capital and Prospeq. This funding will support the Los Angeles-based company's growth and expansion efforts across the cannabis industry’s value chain.

The debt financing, which consists of $2 million in growth capital, will be allocated towards bolstering inventory to meet the increasing demand for the company’s automation solutions and enhancing the company’s working capital to further accelerate sales and market penetration.

“The debt financing is crucial for Sorting Robotics, providing essential capital that drives our innovation without diluting ownership,” stated Nohtal Partansky, co-founder and CEO of Sorting Robotics and former NASA Jet Propulsion Lab engineer. “It’s a strategic move that ensures our growth and enables continuous technological advancements to …

Full story available on Benzinga.com

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