Trellis Solutions Inc, a Canadian cannabis inventory management software provider, has raised about $2.5 million (US$2 million) in funding. The round was led by Casa Verde Capital, the venture capital firm of U.S. rapper Snoop Dogg. Additional funding was provided by cannabis incubator Gateway, an existing investor, as well as Argonautic Ventures, One Gun and others. Founded in 2014 by CEO Pranav Sood, Toronto-based Trellis leverages technology to help cannabis enterprises optimize operations and comply with regulations. It said it will use the funds raised to expand in the United States and scale to accommodate demand for its software.
Casa Verde Capital Leads US$2 Million in Funding For Seed-To-Sale Cannabis Startup Trellis
Investment by Snoop Dogg’s leading innovative cannabis venture firm helps the cannabis management platform scale and expand into additional US markets
September 28, 2017 – OAKLAND, CA – Trellis, a provider of cannabis inventory management software, announced today a US$2 million investment, led by Casa Verde Capital with reinvestment from Gateway. Additional funding is provided by investors outside the cannabis industry, including Argonautic Ventures and One Gun.
As a pioneer in the fast-growing cannabis market, Trellis leverages technology to help enterprises optimize operations and prepare for upcoming regulations in the US market. The company’s enterprise platform will allow cannabis-based enterprises to fully comply with US inventory management and security requirements. Today’s announced investment round will allow Trellis to expand into additional US market segments and scale to accommodate increasing demand for its software.
Casa Verde Capital, led by Karan Wadhera and Evan Eneman, along with Snoop Dogg and his longtime business partner Ted Chung, makes early stage investments in innovative and fast-growing ancillary businesses in the emerging cannabis industry. The VC firm focuses on businesses that “do not touch the plant,” allowing the team to focus its efforts on businesses proven to scale in a still uncertain regulatory environment.
“As cannabis legalization sweeps the US, the compliance burden for cannabis-related businesses will become more and more rigorous. Growers, who are generally hesitant to adopt new technologies, have been thrilled with Trellis’ tracking software. We have been searching for companies with an elegant solution to address the growing pains of the industry. That is exactly what Pranav and his team have built with Trellis,” says Karan Wadhera, Partner at Casa Verde Capital.
“We are at a pivotal point in the industry where the market is expanding with new regulations and operators are experiencing growing pains. This makes it all the more important to have strong tools and procedures in place,” says Pranav Sood, CEO of Trellis. “Our focus is on developing industry tools that help clients manage their cannabis inventory, simplify their compliance processes and support the production of safe, optimum quality product. We are thrilled to have been able to attract such a strong team of beta clients, investors and advisors to support us in our vision.”
Founded in Toronto, Canada in 2014, Trellis has worked with beta clients across the cannabis industry including cultivation, manufacturing, distribution and retail, to design an intuitive, user friendly inventory management system that can scale. Following a successful beta launch in 2016, Trellis currently supports cannabis businesses in California and Canada with strong customer growth in 2017.
For more information about Trellis please visit www.trellisgrows.com, and for more information on Casa Verde Capital please visit www.casaverdecapital.com.
Trellis provides a seed-to-sale inventory management platform for the cannabis industry.Trellis uses its proprietary technology to optimize operational work flows and ensure regulatory compliance. Trellis is committed to evolving the industry and leverages its powerful API to integrate third party logistics, POS, and state compliance software, offering customers the most robust cannabis management software platform. Leading cannabis brands in California and Canada rely on Trellis for their inventory compliance needs. Trellis is on the forefront of the cannabis industry and continues to leverage its expertise to provide a first-in-class cannabis management solution. To learn more about Trellis, visit www.trellisgrows.com.
About Casa Verde Capital
Casa Verde Capital makes early stage investments in innovative businesses in the fast-growing cannabis industry. Casa Verde, led by a team of industry veterans and operators, focuses on ancillary businesses that “do not touch the plant.” This approach allows the firm to focus its efforts on businesses that can scale in an uncertain regulatory environment.
Gateway is the premier accelerator for startups in the cannabis industry. Located in Oakland near Jack London Square, Gateway’s mission is to bring the expertise of Silicon Valley technology entrepreneurship to the burgeoning industry of legal cannabis companies. Startups entering Gateway’s five-month-long program receive office space, instruction and mentorship from successful Silicon Valley tech founders and cannabis industry experts, connection to a vast network of media, investor, and services companies, and $50,000 investment capital. In addition, top-performing graduates are eligible for additional investment from Gateway’s fund.
Photo courtesy of Reuters/Bernadett Szabo