Indiva
Indiva Limited is a Canadian cannabis-edibles producer operating a 40,000-square-foot licensed manufacturing facility in London, Ontario, distributing seven branded product lines including Pearls by Grön, Wana, and Bhang Chocolate across Canada.
- Company typePublic
- Founded2013
- HeadquartersLondon, Canada
- Headcount51–100
- GTM typeB2C
- OfferingHardware or Manufacturing
What Indiva does
Indiva Limited is a Canadian cannabis-edibles producer headquartered in London, Ontario, operating a 40,000-square-foot licensed production facility. Founded in 2013 and listed on the TSX Venture Exchange under ticker NDVA, the company manufactured and distributed a portfolio of seven cannabis-infused edible brands — including Pearls by Grön, No Future, Wana, and Bhang Chocolate — across chocolate, gummy, and specialty formats for the Canadian market. Its go-to-market operated through regulated provincial wholesalers and licensed cannabis retailers, with revenue mechanics tied to per-unit edible sales across SKUs rather than disclosed subscription or licensing arrangements.
The business model is straightforward physical-goods manufacturing and wholesale: Indiva produced edibles under owned or licensed brand names and sold into Canada's regulated cannabis retail channel. Across 2018-2024, the company raised approximately CAD $68 million in disclosed funding rounds, including an $11 million round led by SNDL in 2021, a Canopy Growth-led round in 2023, and a $4.3 million working-capital private placement in early 2024. Despite the funding cadence, the company reported substantial operating losses each year from 2019 through 2023, culminating in a court-supervised CCAA insolvency process in 2024.
On August 29, 2024, SNDL Inc. was selected as the successful bidder to acquire Indiva through the CCAA process, with the transaction expected to close in SNDL's fiscal Q4 2024 subject to court approval on September 19, 2024. The acquisition transfers Indiva's production facility and seven-brand portfolio to SNDL, with stated objectives of improving SNDL's market share in the cannabis-edibles category, increasing capacity utilization, and reducing aggregate corporate expenses. Post-close, Indiva is expected to operate as a subsidiary within SNDL.
Indiva firmographics
Firmographics- Name
- Indiva
- Legal name
- Indiva Limited
- Website
- https://indiva.ca
- Company type
- Public
- Founded year
- 2013
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Indiva Limited is a Canadian cannabis-edibles producer operating a 40,000-square-foot licensed manufacturing facility in London, Ontario, distributing seven branded product lines including Pearls by Grön, Wana, and Bhang Chocolate across Canada.
- Ownership category
- akta.pro rank
Indiva industry classification
Industry- Product category
- Cannabis Edibles Manufacturing
- NAICS
- Nonchocolate Confectionery Manufacturing (31134)
- SIC
- Medicinal Chemicals & Botanical Products (2833)
- akta.pro primary industry
- Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA)
Keywords
Where Indiva is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Indiva business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Others
Indiva product offering
Product offeringCore offering
Indiva Limited was a Canadian cannabis edibles producer that manufactured and distributed cannabis-infused edible products through a portfolio of seven consumer brands, including Pearls by Grön, No Future, Wana, and Bhang Chocolate. Products spanned chocolate, gummies, and specialty cannabis formats, produced at a 40,000-square-foot facility in London, Ontario, and sold across the Canadian licensed cannabis retail market.
Product overview
Indiva was a Canadian cannabis edibles producer operating a 40,000-square-foot production facility in London, Ontario. The company offered a portfolio of seven branded cannabis edibles products, including Pearls by Grön, No Future, Wana, and Bhang Chocolate. Indiva's products were distributed across the Canadian cannabis market. The company was acquired by SNDL Inc. in 2024 through a court-supervised CCAA insolvency process, with the transaction including the production facility and the full brand portfolio.
Differentiator
Problem solved
Functional benefit
Brands
- Pearls by Grön: Cannabis brand in Indiva's portfolio acquired by SNDL
- No Future
- Wana
- Bhang Chocolate
Products and services
- Pearls by Grön A cannabis-infused edible brand in Indiva's consumer product portfolio, distributed across the Canadian cannabis market.
- No Future A cannabis-infused edible brand in Indiva's portfolio of seven brands, distributed in the Canadian cannabis market.
- Wana A cannabis edibles brand known for sour taffy products, part of Indiva's brand portfolio distributed in the Canadian cannabis market.
- Bhang Chocolate A cannabis-infused chocolate brand in Indiva's product portfolio, distributed across the Canadian cannabis market.
Companies that use Indiva
Customer profileIdeal customer profiles1 record
Indiva technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Indiva partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights3 records
Indiva competitors and assessment
Company assessmentDirect peers
- Auxly Cannabis Group: Canadian cannabis company focused on cannabis-infused edible and derivative products under brands like Back Forty and Kolab. Highly comparable to Indiva as a fellow Canadian edibles producer targeting provincial retail channels.
- The Valens Company: Canadian cannabis extraction and derivative product manufacturer serving both medical and recreational channels. Comparable as a Canadian-licensed cannabis processor whose fortunes turned on derivative-product economics similar to Indiva's edibles.
- Entourage Health Corp. Canadian cannabis producer with branded edible and derivative offerings sold through provincial distributors. Comparable as a smaller Canadian edibles-focused producer operating under similar regulatory and channel dynamics as Indiva.
Broad incumbents
- SNDL Inc. Canada's largest private-sector cannabis retailer and the acquirer of Indiva through CCAA. Directly comparable as a Canadian licensed cannabis producer/retailer with overlapping edible distribution, and now the parent combining Indiva's brands and production capacity with its national retail footprint.
- Canopy Growth Corporation: One of Canada's largest cannabis producers and a prior investor in Indiva via the 2023 financing round. Comparable as a broad incumbent in Canadian cannabis with deep exposure to the same provincial retail channels and edible formats.
- OrganiGram Holdings: Canadian licensed cannabis producer with a meaningful portfolio of edible and vapor products including the Edison JOLTS and Holy Mountain brands. Comparable as a Canadian LP competing in the same edibles category with greater scale.
- Aurora Cannabis: Canadian licensed cannabis producer with medical and consumer product portfolios. Comparable as a Canadian LP selling into the same provincial distribution and dispensary channels as Indiva's brands.
- Cronos Group: Canadian cannabis operator with branded consumer product lines including gummy and edible formats. Comparable as a peer Canadian producer competing for the same dispensary shelf space and provincial contracts.
- Tilray Brands: Global cannabis and consumer packaged goods company with edible brands such as Hi-Ball and Chowie Wowie. Comparable as a larger, multi-jurisdiction incumbent competing in the same cannabis-infused edible category Indiva serves.
Emerging players
- High Tide Inc. Canadian cannabis retail and consumer products company selling both cannabis and ancillary goods. Comparable as a Canadian peer where cannabis-infused consumables and accessories meet retail distribution, intersecting with Indiva's end-market.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights4 records
Customer concentration
Indiva social profiles
Digital presenceIndiva financial estimates
Financial estimateRevenue estimate
Valuation estimate
Indiva leadership team
Management profileNumber of profiles
Indiva funding detail
Funding detailFunding overview
Funding rounds10 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Indiva M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Indiva
What does Indiva do?
Indiva Limited was a Canadian cannabis edibles producer that manufactured and distributed cannabis-infused edible products through a portfolio of seven consumer brands, including Pearls by Grön, No Future, Wana, and Bhang Chocolate. Products spanned chocolate, gummies, and specialty cannabis formats, produced at a 40,000-square-foot facility in London, Ontario, and sold across the Canadian licensed cannabis retail market.
Is Indiva a public or private company?
Indiva is a public company. It is classified as public and is currently acquired.
When was Indiva founded?
Indiva was founded in 2013. It employs 51 to 100 people.
Where is Indiva based?
Indiva is headquartered in London, Canada, in the North America region.
Who are Indiva's main competitors?
Direct peers on record are Auxly Cannabis Group, The Valens Company and Entourage Health Corp.. Broad incumbents are SNDL Inc., Canopy Growth Corporation, OrganiGram Holdings, Aurora Cannabis, Cronos Group and Tilray Brands. High Tide Inc. is listed as an emerging player.
Does Indiva have an API?
No public API is recorded for Indiva.
What industry is Indiva in?
Indiva's product category is Cannabis Edibles Manufacturing. Its primary akta.pro industry code is CRANAFAA, Adult-Use (Recreational) Cannabis Dispensaries. Its NAICS code is 31134 and its SIC code is 2833.