Snoop Dogg’s Casa Verde Capital is one of several funds investing in California-based medical marijuana delivery startup, Eaze. Founded by former Yammer employee Keith McCarty, Eaze, which claims it will deliver to your door in less than 10 minutes, has made more than 30,000 deliveries since its launch nine months ago.
To date, Eaze has raised $10 million from several investors including Casa Verde Capital, DCM Ventures, Fresh VC, and 500 Startups. In November 2014 the company became the first U.S. cannabis company to secure international investors when it raised $1.5 million in seed money – possibly due to the fact that it supplies technology, but does not provide the marijuana.
Investors are watching closely as the legal marijuana industry is growing quickly. Twenty U.S. states have legalized medical marijuana, and Alaska, Washington DC, Colorado, and Washington state have legalized recreational marijuana. Throughout 2014, marijuana-focused companies raised a total of $104 million across 59 deals, according to CB Insights, and the largest investment today has been a $75 million investment made by Founders Fund in Privateer Holdings.
To receive relevant news stories with summaries provided by GAI News, subscribe to daily or weekly service.