• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Cannabis » Marijuana tech firm Metrc gets $50M with help from Snoop Dogg, Tiger Global

Marijuana tech firm Metrc gets $50M with help from Snoop Dogg, Tiger Global

Drew Hendricks by Drew Hendricks
April 26, 2019
in Cannabis
2 min read
50
0
Metrc

October 25th, 2018 / MJBiz – Metrc, which operates cannabis seed-to-sale tracking systems in 11 states and Washington DC, raised $50 million to expand its operations with the help of two notable marijuana investors.

The funding round, according to a news release, was led by New York-based Tiger Global Management and California’s Casa Verde Capital. The latter was co-founded by rapper Snoop Dogg.

“The investment will be used for growth and solidifying our financial position,” Metrc executive director Scott Denholm wrote in an email to Marijuana Business Daily on Thursday.

Florida-based Franwell will retain a majority stake in Metrc, a limited liability company, but Tiger Global and Casa Verde will now have minority interests in Metrc, Denholm said.

Tiger Global is an investment firm that has funded Facebook and LinkedIn; Casa Verde is a cannabis-focused venture capital firm.

With its 11 state contracts, including recent deals with Massachusetts and California, Metrc is the leader in providing seed-to-sale tracking in the U.S. cannabis industry. Metrc launched in December 2013 to support Colorado’s recreational MJ market.

To date, Metrc has registered more than 85,000 users and tracked more than 20 million cannabis plants and 19 million packages, according to a news release.

Tags: cannabisInvestmentMetrcMJBiz
Drew Hendricks

Drew Hendricks

Drew Hendricks is a business technology and social marketing specialist. Drew has also written for many major publishers such as Forbes, Entrepreneur Magazine and The Huffington Post. Drew has also worked with a variety of different startups around the globe as well as larger advertising agencies in the United States and the UK.

Related Posts

Zenabis returned $1.9 million worth of pot  to Sundial over bad quality and visible molds
Cannabis

Zenabis returned $1.9 million worth of pot to Sundial over bad quality and visible molds

August 22, 2019
269
Tilray to start exporting medicinal pot to Germany
Cannabis

Tilray to start exporting medicinal pot to Germany

August 21, 2019
134
CannTrust stocks fell another 5% after weed distributor returned millions worth of pot
Cannabis

CannTrust stocks fell another 5% after weed distributor returned millions worth of pot

August 20, 2019
147
Cannabis stocks fell as possible recession brews
Cannabis

Cannabis stocks fell as possible recession brews

August 14, 2019
157
Hexo’s Stocks Continue To Suffer A Cannabis Stocks Dive
Cannabis

Aurora Cannabis hovers trade flat amid strong market

August 13, 2019
161
Health inspectors flagged CannTrust’s non-compliance again, sending stocks down by 26%
Cannabis

Health inspectors flagged CannTrust’s non-compliance again, sending stocks down by 26%

August 12, 2019
128
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.