Flora Growth Corp. Announces $401 Million Funding Round
Flora Growth Corp., a global pharmaceutical distributor, has launched a $401 million funding initiative. This includes a $22.88 million strategic investment from DeFi Development Corp., a leading Solana treasury company. The partnership aims to develop an AI-powered treasury strategy for the Zero Gravity (0G) coin.
In an official blog post, Flora said it plans to rebrand as ZeroStack after closing the deal. The company will keep its “FLGC” ticker symbol. Flora intends to integrate DeFi solutions and AI technology to improve treasury management.
Details of the Funding and PIPE Transaction
Flora has raised over $366 million in digital assets and $35 million in cash. It is currently conducting a private placement transaction (PIPE) to buy and sell common shares at $25.19 each. In this deal, 0G tokens are contributed as in-kind loans, valued at $3.00 per token.
Some cash investors and those using 0G tokens to fund purchases will receive pre-funded warrants. These warrants can be exercised after shareholder approval.
Daniel Reis-Faria, incoming CEO of Flora Growth, said, “AI isn’t just transforming what companies do, it’s transforming how they must build infrastructure. This treasury strategy offers institutional investors equity-based exposure to the foundational infrastructure enabling transparent, verifiable, large-scale, cost-efficient, and privacy-first AI development.”
0G’s Decentralized AI Infrastructure and Investment Partners
0G has successfully trained a 107 billion parameter AI model using distributed clusters over low-throughput internet connections. This performance is 357 times better than Google’s previous DiLoCo research. It proves large AI models can be trained without centralized systems. Distributed networks can now handle complex computing tasks once thought to require centralized data centers.
0G is the first Web3 AI company to fully decentralize AI workloads by integrating its storage network, compute network, and training marketplace. This is offered as an all-in-one operating system for Web2 and Web3 developers.
DeFi Development Corp. leads the investment round. It is the first Solana-based Digital Asset Treasury (DAT) company, focusing on accumulating and compounding SOL tokens. Other investors include Dao5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund, and Salt.
Joseph Onorati, CEO of DeFi Development Corp., said, “We’re thrilled to partner with FLGC on this fundraiser and look forward to driving a deep collaboration between 0G and Solana. DFDV is excited to support AI adoption across Solana.”
The PIPE transaction is expected to close around September 26, subject to standard conditions. Flora plans to use the proceeds to acquire more 0G tokens, the native cryptocurrency of the 0G ecosystem.
