Benzinga | Aug 27, 2021 01:57PM EDT

Exclusive: LatAm Cannabis Co. Terraflos, Founded By Former Congressman, Closes $8M Seed Funding Round

Terraflos, a medical cannabis company founded by former Argentine congressman Facundo Garreton operating in Latin America, has closed a Seed funding round of $8 million led by FLA Ventures -- a venture capital fund led by Sebastian Hochbaum, Facundo Belocopitt and Mart?n Szurman. MPE Investment, Glassford Investment and Yaax Capital also participated in the investment round.

The company will use the proceeds of the raise to continue to expand across the region as it seeks to become a dominant player in the industry.

"We are setting up the most relevant cannabis company in the region, mainly focused on the well-being of people," Garreton said. "We aim to provide health solutions by delivering products that combine natural substances, science and technology while respecting nature and the environment."

Terraflos is a company that promotes the development of a complete cannabis ecosystem, vertically integrating the different links of the cannabis production value chain and generating synergies between the various companies it controls.

Regional Dominance

Terraflos currently has a physical presence in Uruguay and Colombia through its portfolio companies, YVY Life Sciences and Blueberries Medical Corp. (OTC:BBRRF), respectively.

The company also owns a valuable asset under development in Uruguay: the former home of Latin TV superstar Susana Gim?nez, which is being converted into a cannabis center that will focus on research and development as well as the promotion of the industry, tourism and training.

In addition, the holding company is about to launch DrGea.com, a platform dedicated to the sale of cannabis products and the training of doctors specialized in the use of medicinal cannabis, dissemination and education of cannabis and its ecosystem.

Within its business plan, Terraflos plans to expand its operations to Argentina, Brazil and Mexico in the short term.

Encuentra nuestro contenido en Espa?ol en El Planteo:

* Facundo Garret?n: el Empresario y Exdiputado que Apuesta a la Industria Cann?bica

* La Chacra Uruguaya de Susana Gim?nez se Convertir? en un Proyecto de Cannabis

* La Historia de YVY, la Exitosa Empresa Uruguaya de Cannabis Medicinal

* Photo: Lelen Ruete