Debra Borchardt
Casa Verde Capital announced a $2 million investment into cannabis software company Trellis, with reinvestment from Gateway. There is also additional funding from Argonautic Ventures and One Gun
Trellis is a seed-to-sale platform that not only helps cannabis companies stay on top of compliance requirements but also helps customers prepare for upcoming regulations. The platform also helps companies comply with inventory management and security requirements. Trellis had a successful beta launch in 2016 and currently supports cannabis businesses in California and Canada with strong customer growth in 2017. Today’s announced investment round is intended to allow Trellis to expand into additional US market segments and scale to accommodate increasing demand for its software.
“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,” said 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.”
Some of Trellis’ beta clients include Humboldt Legends, Cultivate, Sonoma Grown, Greenrock Botanicals and Peridot Labs.
Casa Verde Capital is led by Karan Wadhera and Evan Eneman, along with Snoop Dogg and his longtime business partner Ted Chung. The company 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.
