Toronto-based Trellis, which provides cannabis inventory management software, has raised $2.5 million led by Casa Verde Capital.
Additional funding was provided by Argonautic Ventures and One Gun. Casa Verde Capital is led by Karan Wadhera and Evan Eneman, along with Snoop Dogg and his longtime business partner Ted Chung. Casa Verde invests in companies that don’t deal directly with cannabis, as the regulatory environment is still uncertain.
“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.”
Trellis’ software helps companies comply with US inventory management and security requirements; the company also stays on top of regulations to ensure its own clients are compliant. The funding will be used to expand into additional US markets and scale to accommodate increasing demand.
So far, Trellis has worked with beta clients across the cannabis industry, including cultivation, manufacturing, distribution, and retail.
“As cannabis legalization sweeps the US, the compliance burden for cannabis-related businesses will become more and more rigorous,” said Wadhera. “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.”