MoJo Botanica LLC, a New Jersey-based minority owned business (MBE), launched an equity-based crowdfunding raise in advance of its first cannabis cultivation and manufacturing facility.
Founded by Tanmoy “TJ” Jadhav, KB Singh and Ankur Patel, the startup was awarded two conditional cannabis license approvals, secured a location in Elizabeth and is working to obtain municipal permission to open.
In a Feb. 7 press release, Jadhav, MoJo’s chief executive officer, said, “We are excited to launch this crowdfunding campaign. Our mission is to promote cannabis as a source of happiness, inspiration, and holistic wellness. With collaboration and community at the core of our business, we want to create an ecosystem that works together to shape the industry, empower ownership and drive positive change.”
In order to make their vision a reality, the founders said they have invested half a million dollars of their own money to bootstrap the business in its start-up phase.
Through its crowdfunding campaign, MoJo seeks to democratize access to equity in an emerging market that is typically only available to those with capital or other resources. And, ultimately, they hope to “foster an inclusive cannabis ecosystem” that prioritizes collaboration, sustainability, responsible consumption and de-stigmatizing the plant.
To learn more about MoJo’s crowdfunding campaign, click here.