Cannabis Technology Startup Closes $5 Million

Xtraction Services announced it secured $5 million in financing from Archytas Ventures.

The agriculture technology startup provides “extraction-as-a-service” for the cannabis industry. According to the company, instead of having to spend millions of dollars on new equipment, cannabis businesses can access equipment and staff at no upfront cost. Xtraction’s liquid CO2 pumps achieve carbon dioxide flow rates of up to 4,600 ml per minute at 4,000 psi, increasing production efficiencies and decreasing production time.