Zentrela, a Hamilton, Ontario-based neurotechnology company focused on cannabis product effects, has secured C$850,000 in a seed-stage financing. The round was led by Jornic Ventures. Zentrela previously raised C$1.2 million from Ontario Brain Institute and government agencies to fund prototype development and clinical trials.
HAMILTON, CANADA, Feb. 11, 2021/PRNewswire/ – Canadian neurotech start-up Zentrela today announced the completion of an $850K seed round led by Jornic Ventures.
The investment will be used to further commercialize Zentrela’s proprietary EEG test for cannabis impairment and create the world’s largest scientific database of cannabis product effects. In 2019 the company raised $1.2M in funding from the Ontario Brain Institute and various government agencies to fund prototype development and clinical trials.
The neuroscience of cannabis is advancing quickly at pace with the speed of deregulation, as government regulators, license producers, drug testing experts, law enforcement officials and recreational cannabis users seek to better understand cannabis and its effects on the brain.
“Our research has already identified several proprietary signatures related to how cannabis impacts the brain. We are now cataloguing the entire universe of effects for Cannabis 2.0 products. This goldmine of data will help unlock new insights and opportunities for licensed producers and enable cannabis consumers to make more informed purchase decisions to ensure responsible and enjoyable cannabis use,” says Israel Gasperin, Zentrela CEO and founder.
“We expect innovative cannabis 2.0 products will trigger the next wave of growth in the cannabis sector, especially as US markets continue to deregulate and the prospect of national US legalization becomes more real,” says Richard Sansom, President of Jornic Ventures. “Zentrela’s unique and scalable neuroscience-based methodology solves a major challenge for the industry and promises to provide a rapidly growing universe of cannabis users with the information they demand and need safe and enjoyable cannabis use.
Zentrela’s approach combines proprietary artificial intelligence algorithms with deep neuroscience expertise to decode electrical brain activity and convert it into reliable and meaningful information.
“The potential for neuroscience has exploded as artificial intelligence and machine learning algorithms have matured. We can now isolate neural ‘signatures’ of product effects and use that information rapidly to accelerate the process of mapping specific cannabis product effects for consumers,” says Gasperin.
Zentrela Inc. is advancing the understanding of the brain effects of recreational cannabis and is creating the world’s largest scientific database of cannabis product effects. Visit us at http://www.zentrela.com
About Jornic Ventures
Jornic Ventures partners with aspiring entrepreneurs who’ve set out to bring important ideas to life. Founded in 1995, our Calgary based firm, comprising venture capital, project finance, and private equity invests early to accelerate innovation in technology, food and agriculture, energy, and real estate.