AceCann announced raising $15 million from Casa Verde Capital.

AceCann, a Lisbon, Portugal-based medical cannabis company, announced raising $15 million.

The money includes public funding and debt capital, and the equity was raised from American investors led by venture firm Casa Verde with participation from Portuguese venture capital firm, Lince Capital. Additional investors participating in the round include Chris Mayle and Marc Gare, co-founders of Advanced Grow Labs (acquired by GTI); Frank Cid, CEO of Royal Life Centers; and angel investor Sebastian de la Rosa of Whistler Medical Marijuana Corporation (acquired by Aurora).

The proceeds will be used to develop a state-of-the-art production facility located in Vendas Novas, Portugal dedicated to the organic cultivation, processing and extraction of premium medical cannabis products. Construction started in September.

AceCann, founded by CEO Pedro Gomes, is focused on the cultivation, processing, extraction and R&D of organic medical cannabis.