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Former Argentine Congressman Leads $1.5M Round For Uruguayan Cannabis Company

YVY Life Sciences, a cannabis wellness company based in Uruguay, announced a oversubscribed $1.5 million seed round led by Facundo Garreton, who joins the team as a strategic partner. The round includes smaller investments from a number of strategic advisors,

Benzinga · 03/05/2020 15:05

YVY Life Sciences, a cannabis wellness company based in Uruguay, announced a oversubscribed $1.5 million seed round led by Facundo Garreton, who joins the team as a strategic partner.

The round includes smaller investments from a number of strategic advisors, and leaders from other industries such as technology, pharma, wellness and food and beverages.

The capital will allow YVY to scale its production of organic CBD products, using its innovative cultivation model of small, sustainable and standardized farms, as well as implement the first phases of it's centralized facility. The company expects to export it's first products later this year.

A Former Member Of Congress

As a successful entrepreneur, social impact leader and former member of congress in Argentina, Garreton brings a wealth of experience and strategic foresight to the Uruguayan company.

"After an eye-opening experience in the Argentinian government, I am excited to return to the world of entrepreneurship, especially the developing world of international cannabis," Garreton said. "I'm looking forward to working alongside Kevin and Andrea, expanding throughout Latin America and achieving scalable social and environmental impact."

YVY Life Sciences co-founder and CEO, Andrea Kruchik Krell added, "We are thrilled to have Facundo as a partner. His experience and success in entrepreneurship, social impact and government aligns perfectly with YVY's goals and values. We see Facundo as a fellow entrepreneur, more than an investor, with whom we can navigate this complex and exciting new world of legal cannabis."

YVY Life Sciences produces natural and high quality cannabis products while pioneering an innovative cultivation model. YVY was founded in 2018 by Kevin Nafte (former Head of Operations at Flow Kana, California) and Andrea Kruchik Krell.

Photo by Javier Hasse. In the picture, co-founder Andrea Kruchik Krell in a pilot grow op in February of 2018.