cannabis

cannabis

When PSI Labs started testing cannabis for THC levels and pesticides in 2015, it entered into an unregulated industry that would soon grapple with the effects of legalization and—perhaps more troubling—was prone to sloppy testing practices that gave varying results on potency and toxicity levels.

“A client comes to you. They don't like the numbers that they see,” said Ben Rosman, co-founder of the Michigan-based PSI Labs, which expanded into California earlier this year. “And they're like, ‘I can find another lab who's going to give me the numbers I like,' or 'I don't like that you failed me. And I know there's another lab that's going to give me a pass.'

What Rosman is referring to is the potency rating on marijuana. The higher the rating, the more powerful the drug.

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Christopher Gavigan — co-founder of the consumer goods empire Honest Company — is trying to bring order to the unregulated market of CBD.

Just weeks after the Honest Company's Wall Street debut, CEO and co-founder of Santa Monica-based Prima is charming investors of his own with a line of pricey hemp-infused serums and supplements.

The company announced a lofty $9.2 million seed-plus round on Friday led by Greycroft, H Ventures, Defy and Lerer Hippeau.

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George Mancheril has a habit of fidgeting with his wedding band while talking at warp speed about debt capital markets. The effect is more evocative of Wall Street uppers than Californian cannabis, but looks can be deceiving.

True, Mancheril cut his teeth back in New York, working in fixed income trading at Goldman Sachs and structured credit at Guggenheim Partners. But he's been a Santa Monica resident for the last eight years, and now, as the 35-year-old CEO of Bespoke Financial, he's bringing his Wall Street expertise to the cannabis industry.

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