The parent corporation of Convectium, a leader in automated filling equipment for the cannabis industry, has landed a significant investment from Decathlon Capital Partners to support its further expansion. Jacksam Corporation (OTCMKTS: JKSM), which does business as Convectium, has successfully closed on a revenue-based financing package with Decathlon Capital Partners to help fund its continued growth.
The investment package will be used by Convectium to support sales expansion, enhanced customer service and a wider range of product offerings. The company is headquartered at Newport Beach, Calif. Convectium, established in 2014, provides automated solutions that address filling and capping of vape cartridges and pods and well as pre-rolling of joints.
“As the legalized recreational cannabis market expands into a growing number of states, including New York, producers of cannabis and CBD products turn to Convectium for automated technology that eliminates labor-intensive processes,” said Mark Adams, chief executive officer of Convectium. “Our products deliver immediately quantifiable return on investment while adding the precision, speed and effectiveness that improve the quality of cannabis and CBD products.”
Chris Risey, vice president of Decathlon Capital Partners, said Convectium’s patent-pending technology and multi-national strategic partnerships establish a solid base for further market expansion as well as development of new opportunities in large states such as New York, Massachusetts and California.
“A seasoned management team that combines experience in the cannabis industry with extensive background in finance and operations positions Convectium to maintain its industry leadership,”Risey said. Because the investment is a revenue-based finance arrangement, Jacksam did not exchange any equity or ownership for growth capital. Instead, the investment will be repaid through the company’s future revenue.
About Jacksam Corporation
Jacksam Corporation, doing business as Convectium, designs and markets automated vape, POD and cartridge filling and capping equipment for the cannabis and CBD industry. Convectium is also a distributor of other CBD and Cannabis automation solutions including the “PreRoll-ER” automated pre-roll machine. Its automated equipment is designed and built in the U.S. and carries full UL certification in the U.S. Using its automated equipment, Convectium’s customers can increase their output by up to 60 times over hand filling. Convectium is focused on helping its customers automate their workflow and quickly get custom branded products onto dispensary shelves. Over 250 companies, including many dominant brands and multi state operators (MSOs) in the space, rely on Convectium for automation of their production and back-office operations. For more information, visit https://www.convectium.com.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at https://www.decathloncapital.com.
Source: PRWeb