201903 Jun

Distru, a maker of supply chain software for the cannabis industry, has raised $3 million led by Felicis –

Summary

Distru, a nearly three-year-old, Oakland-based startup whose platform aims to help track cannabis through its seed-to-sale process, has raised $3 million in seed funding led by Felicis Ventures, with participation from Village Global, Global Founders Capital, and numerous notable angel investors, including Elad Gil, Katie Stanton, and Avichal Garg. The deal is an interesting one for numerous reasons, including that it marks Felicis’s first investment in the cannabis space after many months spent looking at a wide array of related startups, says Niki Pezeshki, a principal with the firm. Most important, Distru’s software helps them automate compliance with complicated and growing state regulations by integrating with Metrc, which is itself inventory tracing software that’s being used by a growing number of states to record the inventory and movement of cannabis and cannabis products through the commercial supply chain. (We wrote about six-year-old Metrc last year when it raised $50 million in funding, including from Casa Verde Capital and Tiger Global Management. Altogether, says Hatab, the team is made up of just nine employees who work remotely, though with its new funding, Distru plans to fill five more roles imminently.

Source: Techcrunch

Funding

$3M
Amount
Jun 03 2019
Date
-
Investor
Distru
Company

Classifications

Companies