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Polish hemp firm raises $1.1 mn, to produce textiles

Polish hemp grower Kombinat Konopny recently raised 4.2 million zloty ($1.1 million) in an online fundraising campaign, reportedly breaking a record for the most money raised on a Polish crowdfunding website in a single day.

More than 700 investors took part in the event. The money will be used to launch hemp-textile production and manufacturing affordable cannabidiol (CBD) oils.

Kombinat Konopny said the previous crowdfunding record in Poland was held by the Polish soccer team Wisly Krakow, which took up to 24 hours to collect 4 million zloty.

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“The issuing of Kombinat Konopny shares will certainly go down in the history of development of the Polish investment market,” the company wrote on its Facebook page. “Thanks to you, we will draw the attention of ‘public opinion’ and the ‘mainstream’ media that hemp is not a marginal or niche [industry]. Hemp is the future. Our common one!”

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