September 28, 2017 - OAKLAND, CA - Trellis, a provider of cannabis inventory management software, announced 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, according to a press release.
As a pioneer in the fast-growing cannabis market, Trellis leverages technology to help enterprises optimize operations and prepare for upcoming regulations in the U.S. market. The company’s enterprise platform will allow cannabis-based enterprises to fully comply with U.S. inventory management and security requirements. The announced investment round will allow Trellis to expand into additional U.S. 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 U.S., 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.
