Jacob Redmond
Well-Known Member
Rapper Snoop Dogg has joined a $10 million (£6.8 million) fundraising round for a marijuana delivery company nicknamed the "Uber for weed".
Eaze delivers weed to customers in places where the drug is legal in around 15 minutes.
It raised $1.5 million in funding in November and has now raised another $10 million that it plans to use to hire 50 people in 50 days and expand beyond the 35 cities in which it already operates.
DCM Ventures, a tech-focussed investor, led the latest funding round. Snoop Dogg's venture capital fund, Casa Verde, was also among the investors, according to reports.
"With public sentiment and public policy aligning to broaden access and the cannabis market surging toward $100 billion, we believe there is a huge opportunity as the fast moving technology and cannabis industries intersect," David Chao, general partner at DCM Ventures, said in a statement.
Eaze is not the only company pitching itself as the 'Uber for weed'.
The Verge reports that at least six startups with plans to deliver medical marijuana to people's doors have launched in the past eight months: Eaze, Nestdrop, Meadow, Grassp, Dave and Canary.
That doesn't include delivery services in Seattle that will let you call in and place an order, the Verge noted.
If the numbers are anything to go by, investors are starting to take the marijuana business seriously. Last week a start up called Privateer Holdings, that will this year bring Bob Marley branded weed to market, raised $75 million (£50 million) in funding.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Snoop Dogg joins $10 million fundraising round for 'Uber for weed' start-up - Business News - Business - London Evening Standard
Author: Hazel Sheffield
Contact: news@standard.co.uk
Photo Credit: None Found
Website: London News | London Evening Standard - London's newspaper
Eaze delivers weed to customers in places where the drug is legal in around 15 minutes.
It raised $1.5 million in funding in November and has now raised another $10 million that it plans to use to hire 50 people in 50 days and expand beyond the 35 cities in which it already operates.
DCM Ventures, a tech-focussed investor, led the latest funding round. Snoop Dogg's venture capital fund, Casa Verde, was also among the investors, according to reports.
"With public sentiment and public policy aligning to broaden access and the cannabis market surging toward $100 billion, we believe there is a huge opportunity as the fast moving technology and cannabis industries intersect," David Chao, general partner at DCM Ventures, said in a statement.
Eaze is not the only company pitching itself as the 'Uber for weed'.
The Verge reports that at least six startups with plans to deliver medical marijuana to people's doors have launched in the past eight months: Eaze, Nestdrop, Meadow, Grassp, Dave and Canary.
That doesn't include delivery services in Seattle that will let you call in and place an order, the Verge noted.
If the numbers are anything to go by, investors are starting to take the marijuana business seriously. Last week a start up called Privateer Holdings, that will this year bring Bob Marley branded weed to market, raised $75 million (£50 million) in funding.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Snoop Dogg joins $10 million fundraising round for 'Uber for weed' start-up - Business News - Business - London Evening Standard
Author: Hazel Sheffield
Contact: news@standard.co.uk
Photo Credit: None Found
Website: London News | London Evening Standard - London's newspaper
