Everyday we find a new “first” when it comes to the cannabis industry. Cura Cannabis Solutions has their eyes set on becoming the first cannabis company to get a $1 Billion dollar valuation.
Per Business Insider
Cura Cannabis Solutions, a startup that makes marijuana oil for vape cartridges, wants to be the first US company in the cannabis industry to achieve elusive “unicorn” status with a billion dollar valuation.
“We’ve had a lot of nicknames. ‘Unicorn’ is definitely a new one,” said Cura president and cofounder Cameron Forni.
Cura is currently raising funding at a $400 million valuation, which represents a 1,300% increase from its valuation in 2016 and puts it ahead of the combined market value of the two biggest publicly traded marijuana companies in the US: Terra Tech and Kush Bottles.
The Oregon-based company closed the year with $40.5 million in sales, and it predicts revenue will rise to $120 million in 2018 as California’s recreational marijuana market comes online.
Cura’s colossal growth stems from a decision it made early on to focus exclusively on cannabis oil, a product that’s highly concentrated in the chemical compounds found on the outside of the plant. The company does not grow its own marijuana, but sources it from third-party farmers.
The company’s signature line of vape cartridges, Select Oil, uses a Japanese organic cotton wick that absorbs the oil through its fibers and delivers it to a heating chamber. According to Forni, the system allows users to take quick draws without the burned taste of a standard cotton wick.
Select Oil offers over a dozen formulations with various potencies, flavors, and desired effects. Its biggest seller is a $60 cartridge called Select Elite, which has the highest concentration of THC, the psychoactive ingredient in marijuana, of all its vape cartridges.
