GrowCo, a company that builds marijuana cultivation facilities, closed a nearly $1.3 million capital raise last week, according to documents filed with the SEC.
The capital will be used to expand on GrowCo’s 160-acre project in Pueblo, where the company is building marijuana greenhouses with the intent to lease them to growers.
“There’s a 91,000-square-foot greenhouse with a 15,000-square-foot warehouse,” said GrowCo CFO Wayne Harding of the project’s first phase. “That’ll be opened in the next week or two, and eventually there will be four of them total.”
GrowCo raised $1.275 million from 15 investors as of Oct. 1, according to SEC documents. It’s the company’s second raise, following a $5 million fundraiser in May. The funding will go towards completing the four-warehouse project, and the second building is already in the works.