Xtraction Services equipment

Xtraction Services equipment

Archytas Ventures, a Century City-based holding company that specializes in the cannabis industry, has led a nearly $3 million oversubscribed round for one of its equipment companies.

Xtraction Services, a Florida-based cannabis extractor machinery company founded by Archytas, announced June 8 it had oversubscribed its Series B financing by 44 percent with a $2.8 million raise.

The round was led by Archytas Ventures, an investment and holding company founded in 2017 by Tim Rotolo, Antony Radbod and David Kivitz that that bills itself as identifying the “picks and shovels” of the cannabis industry.

It included investors Quinsam Capital Corp. and Ollerhead Capital/Chunkerhead Ltd., both of Toronto, Canada.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.