C3 Industries

What C3 Industries does

C3 Industries is a privately-held, vertically-integrated multi-state cannabis operator headquartered in Ann Arbor, Michigan. Founded in 2017 by brothers Ankur Rungta (CEO) and Vishal Rungta (President), the company cultivates, manufactures, and retails cannabis products across seven U.S. states (Michigan, Missouri, Massachusetts, Connecticut, Illinois, New Jersey, Kentucky) through 32 company-owned High Profile Cannabis Shop retail locations and over 200,000 square feet of cultivation and processing capacity. Its portfolio includes three owned consumer brands — Cloud Cover Cannabis (premium indoor flower with proprietary genetics, winner of four High Times Cannabis Cup awards), Galactic Cannabis (value-tier), and Habitat Cannabis (lifestyle/outdoor positioning) — plus an Above The Clouds premium sub-brand and a social-equity partnership (High Profile x Budega) operating three Boston locations.

The company generates revenue through three channels: direct-to-consumer retail at company-owned dispensaries featuring deli-style flower service, budtender-led consultation, drive-thru at select locations, and an eCommerce platform; wholesale distribution of its owned brands to partner dispensaries in Michigan, Missouri, and Massachusetts; and internal cultivation/manufacturing supplying both captive retail and wholesale channels. Pricing is per-transaction retail with a 6% cash-back loyalty program and discounts for veterans, seniors, and cannabis-industry workers. Customer segments are adult-use recreational consumers (21+) and medical marijuana patients (18+ with valid card), with no disclosed enterprise contracts.

C3's go-to-market is geographically concentrated in Michigan (10+ stores) and Missouri (10 stores), with newer market entries in Connecticut, Illinois, New Jersey, and Kentucky. Management has drawn senior retail and finance executives from competitors including Curaleaf, Ascend Wellness, Cresco Labs, Apollo Global Management, Moelis & Company, and Google. The company has raised over $100 million cumulatively, including a $25 million oversubscribed equity round in July 2021 led by Madison Square Park Capital, and an active $8 million securities offering through C3 Kentucky LLC in 2025. In June 2025, C3 acquired cannabis retail consultancy Vetrina Group, integrating its founder as Chief Strategy Officer.

Name

C3 Industries

Legal name

C3 Industries, Inc.

Website

https://c3industries.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

C3 Industries is a privately-held, vertically-integrated multi-state cannabis operator that cultivates, manufactures, and retails cannabis products through 32 High Profile Cannabis Shop dispensaries across seven U.S. states, serving adult-use consumers and medical patients with three owned brands (Cloud Cover, Galactic, Habitat).

Ownership category

akta.pro rank

Product category

Cannabis Products (Vertically-Integrated Multi-State Cannabis Operator)

NAICS

Tobacco, Electronic Cigarette, and Other Smoking Supplies Retailers (459991)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Cannabis Dispensary + Ancillary Retail (Accessories, CBD/Hemp, Merchandise) (CRANAFAH)

akta.pro secondary industries

Cannabis Online Ordering for Dispensary Pickup (Click-and-Collect) (CRANAGAC), Medical Cannabis Delivery & Online Ordering (CRANAGAG), Cannabis Accessories & Ancillary Products Wholesale (Vapes, Packaging, Hardware) (CRAOAIAH)

Keywords

• Cannabis cultivation
• Cannabis retail
• Multi-state operator
• Cannabis brands
• Wholesale cannabis

Headquarters

HQ city

Ann Arbor

HQ country

United States

HQ region

North America

Offices33 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Retail Cannabis Sales: Direct retail sales through High Profile Cannabis Shop dispensaries across Michigan, Missouri, Massachusetts, Connecticut, Illinois, New Jersey, and Kentucky. Revenue from flower, pre-rolls, edibles, vapes, concentrates, and accessories. Includes drive-thru service at select locations.
2. Wholesale Brand Distribution: Wholesale distribution of owned brands (Cloud Cover Cannabis, Galactic Cannabis, Habitat Cannabis) to partner dispensaries. Cloud Cover available in Massachusetts, Michigan, Missouri; Galactic and Habitat in Michigan and Missouri.
3. Cultivation and Manufacturing: Revenue from internal cultivation and manufacturing operations producing cannabis products for company-owned retail and wholesale channels. Operations include 150,000 sq ft of cultivation facilities (125,000 sq ft Michigan campus, 95,000 sq ft Missouri, 37,000 sq ft Massachusetts, 15,000 sq ft Missouri processing).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

C3 Industries is a privately-held, vertically-integrated multi-state cannabis company that cultivates, manufactures, and retails its own cannabis brands through company-owned dispensaries. Its owned product brands include Cloud Cover Cannabis (premium indoor flower with proprietary genetics), Galactic Cannabis (value tier), Habitat Cannabis (lifestyle/outdoor), and Above the Clouds (small-batch premium sub-line), sold via 32 High Profile Cannabis Shop dispensaries across seven U.S. states and through wholesale to partner dispensaries.

Product overview

C3 Industries operates as a vertically-integrated multi-state cannabis company with a diversified portfolio of consumer brands and retail operations. The company offers three distinct cannabis product brands—Cloud Cover Cannabis (premium indoor flower with proprietary genetics), Galactic Cannabis (value-focused products for cost-conscious consumers), and Habitat Cannabis (lifestyle brand for outdoor enthusiasts)—along with Above the Clouds, a premium sub-brand of small-batch, high-potency Cloud Cover releases. Retail operations are conducted under the High Profile Cannabis Shop brand, featuring modern dispensaries with deli-style flower service and omnichannel capabilities, including the High Profile x Budega social equity concept in Massachusetts. The company operates cultivation and manufacturing facilities across Michigan, Missouri, and Massachusetts, producing its owned brands for both retail and wholesale distribution.

Differentiator

Problem solved

Functional benefit

Brands

• High Profile Cannabis Shop: Retail chain curating and selling premium cannabis flower and products, serving customers in Connecticut, Illinois, Massachusetts, Michigan, Missouri and New Jersey. The company's retail brand focused on building the best cannabis experience and selection.
• Cloud Cover Cannabis
• Galactic Cannabis
• Habitat Cannabis

Products and services

• Cloud Cover Cannabis Premium indoor flower cannabis brand featuring proprietary genetics refined over years of cultivation, including the Above the Clouds small-batch premium sub-series. Award-winning with 4 High Times Cannabis Cup awards in flower and concentrate categories in Oregon. Available in Massachusetts, Michigan, and Missouri.
• Galactic Cannabis Value-oriented cannabis brand offering a full suite of products including flower, pre-rolls, edibles, vape carts, and concentrates, positioned for cost-conscious value consumers with an irreverent sci-fi brand personality. Available in Massachusetts, Michigan, and Missouri.
• Habitat Cannabis Lifestyle-focused cannabis brand for outdoor enthusiasts and adventure seekers, offering convenient and affordable cannabis products designed as companions for life's adventures. Available in Michigan and Missouri.
• High Profile Cannabis Shop Premium cannabis retail chain operated by C3 Industries, offering curated product selection, deli-style flower service, modern store interiors, and highly trained budtenders. Operates 32 dispensaries across Connecticut, Illinois, Massachusetts, Michigan, Missouri, New Jersey, and Kentucky with omnichannel capabilities including eCommerce and drive-thru at select locations.
• Above the Clouds Cloud Cover Cannabis' premium series of small-batch, limited releases showcasing exceptional terpene expression and quality. Features highest-potency cultivars with very limited availability, available in select High Profile retail locations in Missouri.
• High Profile x Budega Social equity cannabis retail concept operated by C3 Industries in partnership with a local social equity partner in Boston. Three High Profile x Budega stores in Dorchester, Roslindale, and Roxbury serving communities affected by the War on Drugs and empowering local entrepreneurs to enter the legal cannabis industry.

Quantifiable outcome

• 4 High Times Cannabis Cup awards in first full year in Oregon market (flower and concentrate categories)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• C3 Kentucky LLCminorOthers · 1 October 2025Subsidiary entity registered under Kentucky law, offering securities under Rule 506(b) to raise up to $8 million (with $5 million already sold) for Kentucky market expansion.
• Ayr WellnessminorOthersMulti-state cannabis operator cited alongside C3 Industries as well-capitalized operators who failed to gain significant foothold in Connecticut's challenging cannabis market dominated by original medical marijuana producers.
• Lions & Rabbits Center for the ArtsminorStrategic or Co-development PartnerMichigan-based nonprofit led by artists with mission of creating better path for local artists. Partnership included contributions to fundraising events supporting Grand Rapids artist community, commission of murals on two Michigan High Profile dispensaries, and brand activations with Cloud Cover Cannabis and High Profile Cannabis Shop.
• The Trevor ProjectminorStrategic or Co-development PartnerLGBTQ+ youth organization supported through partnership during June Pride month. Company raises awareness and donations.
• Folds of HonorminorStrategic or Co-development PartnerVeterans support organization. Company raises money through donations during November to support this cause.
• National Breast Cancer FoundationminorStrategic or Co-development PartnerOrganization supporting women and families impacted by breast cancer. Company supports during October with donations.
• We Are JaineminorStrategic or Co-development PartnerOrganization focused on empowering women in cannabis through mentorship, empowerment, and networking. Builds alliances to foster united voice in the industry.
• Social Equity Partner (Boston)coreStrategic or Co-development PartnerLocal social equity partner in Boston for High Profile x Budega retail stores. Three locations in Dorchester, Roslindale, and Roxbury operated in conjunction with this partner, helping bring benefits of legalized cannabis into affected communities and empowering individuals from such communities to enter the industry.

Scale indicators11 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Curaleaf: Large multi-state cannabis operator with vertical integration across cultivation, manufacturing, and retail. C3's CRO Chris Melillo and VP of Retail Operations Dinesh Penugonda both previously held senior roles at Curaleaf, signaling direct operational overlap and competitive similarity in the MSO category.
• Cresco Labs: Multi-state cannabis operator with cultivation, manufacturing, and dispensary footprint across the Midwest and beyond. C3's VP of Operations & Construction Danny Rohloff and Regional VP Jason Berkenstock previously held senior roles at Cresco, indicating overlapping operating model and competitive overlap in core Midwest markets.
• Ascend Wellness Holdings: Multi-state cannabis operator with dispensary and wholesale operations in markets overlapping with C3 (Illinois, Massachusetts, Michigan, New Jersey). C3's CRO Chris Melillo and VP of Buying & Planning Andrew McCann both previously held senior roles at Ascend, indicating strong operational and competitive comparability.
• Ayr Wellness: Multi-state cannabis operator specifically cited alongside C3 Industries as a well-capitalized MSO that struggled to gain significant foothold in Connecticut's challenging cannabis market, making it a closely comparable peer in terms of scale, geographic strategy, and market-entry dynamics.

Broad incumbents

• Green Thumb Industries: Established multi-state cannabis operator with national retail footprint under RISE dispensaries and multiple owned brands. Comparable to C3 in vertical integration and brand portfolio approach, but at substantially greater scale across more states.
• Trulieve: Largest US multi-state cannabis operator by retail footprint with significant presence in Florida and expanding nationally. Comparable vertical integration model and multi-state expansion strategy, though operating at significantly greater scale than C3.
• Canopy Growth: Large publicly-traded cannabis company with diversified brand portfolio (including premium flower brands) and multi-state presence. Comparable to C3 in branded cultivation and retail strategy, but operating at much greater scale and with broader product diversification.

Emerging players

• STIIIZY: Premium cannabis brand and retail operator specifically mentioned in C3's press coverage as expanding into Michigan (a core C3 market), positioning STIIIZY as a direct competitor on branded vapes and premium flower, with overlapping brand-led retail strategy.
• Cookies: Premium cannabis brand with vertically integrated retail and wholesale operations across multiple states. Comparable to C3's brand-led retail and wholesale distribution strategy, particularly through Cloud Cover and Galactic Cannabis brands.
• Planet 13: Vertically integrated cannabis operator known for destination dispensary experiences in Nevada and expanding nationally. Comparable to C3 in retail-experience focus and premium positioning, though with a more concentrated geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/c3industries

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about C3 Industries