Tilray, a Canadian medical cannabis startup, has raised $60 million in a Series A financing. The company, owned and funded since its founding in 2014 by U.S. cannabis private equity firm Privateer Holdings, was backed in the Series A for the first time by unidentified institutional investors. Tilray researches, cultivates, processes and distributes medical cannabis and cannabinoids. Headquartered in Nanaimo, British Columbia and led by CEO Brendan Kennedy, the company will use the funds raised to increase production capacity in North America and Europe, and scale distribution of products to more patients and pharmacies around the globe.