CBD manufacturer Mile High Labs closes $35 million Series A funding round

Loveland, Colorado-based Mile High Labs has closed a $35 million Series A funding round as it works to expand globally.

The raise was led by institutional investors from the United States and Europe, as well as family offices and a venture capital fund.

Mile High Labs’ success lands as companies across the industry draw in record amounts of capital.

Specifically, the company expects to use the capital to expand the production capacity of its premium cannabidiol extracts “to meet rapidly increasing market demand,” the company said in a press release.

Founded in 2016, Mile High is a manufacturer of CBD crude oil, distillate and isolate.  The company extracts exclusively from industrial hemp flower material and offers extraction, refining and co-packaging services to cultivators, manufacturers, retailers and other consumer packaged goods companies.