GrowLife, Inc. (OTCQB:PHOT), a Kirkland, Wash.-based indoor cultivation service provider, secured additional funding from private investment firm Chicago Venture Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to expand into its five pillar business strategy comprised of:
– GrowLife Hydroponics, a distribution business unit built around its direct sales force;
– GrowLife Products, a division featuring GrowLife-branded supplies, financial services, packaging, and supplies to support indoor growing operations;
– GrowLife Eco e-Logistics, an online marketing and distribution channel;
– GrowLife Licensing, a retail licensing arm that has already established GrowLife Retail License retailers in Canada and the United States; and
– GrowLife Cube Subscription, a consumer-targeted indoor “grow it yourself” subscription package.
Founded in 2012 by Marco Hegyi, CEO, GrowLife is a cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Through a network of local representative covering the United States and Canada, regional centers and its e-Commerce team, the company provides essential goods and services including media, hydroponics equipment, plant nutrients, and thousands more products to specialty grow operations.
FinSMEs
13/10/2017