Israeli cannabis startup Seedo, the company that has developed a fully-automated indoor medical cannabis grow device, has announced a marketing and distribution agreement for Europe with Namaste Technologies, a Canadian global online cannabis marketplace.
According to the agreement, Namaste will introduce and distribute Seedo’s home grow device in European markets, including the United Kingdom and Germany.
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“Given their extensive distribution experience and wide-reach within the cannabis space, we are excited to work with Namaste,” said Seedo CEO Zohar Levy. “We are setting our sights on new market segments and successfully expanding around the world. This relationship will introduce European consumers to our automated growing technology, and will give them the capabilities to grow their own plants – hemp, vegetables, fresh herbs, and flowers – at home.”
Founded in 2013, Seedo is headquartered in Haifa. In September, the startup raised $2 million from Cannabics Pharmaceuticals, a US-Israeli company that develops personalized cannabinoid medicine focused on cancer and its side effects.
The product, which resembles a mini-fridge, is powered by algorithms to analyze growth and optimize conditions for cannabis and other plants. It’s geared toward pesticide-free agriculture markets.
Seedo recently announced a partnership with retail innovation firm OutForm to develop a strategic retail branding strategy and optimize Seedo’s US distribution channels and supply chain. OutForm – which works with global retail leaders across industries, including Best Buy, Bed Bath & Beyond, and Home Depot — is set to introduce Seedo to retailers and consumers across the country.
Daniel Birnbaum, CEO of Sodastream, who is set down to step down from the position on September 1st, was also recently appointed to Seedo’s board of directors. He will continue to remain chairman of the board at Sodastream. Earlier this year, Birnbaum invested two million shekels ($550,000) in Seedo.
And earlier this month, Seedo signed a Memorandum of Understanding (MOU) to secure a $30 million line of credit to make its Seedo home device more accessible to consumers. Earlier this year, it begandelivering the first pre-sale home-grow units to customers in California.