Medical marijuana startup Meadow has raised $2.1 million in seed funding, a move it says will accelerate development of its Meadow Platform software suite and also support hiring. Investors that participated in the round include David Lee, Justin Kan, Hiten Shah, Slow Ventures, SOMA Capital, Liquid 2 Ventures, and Poseidon Asset Management.
In conjunction with today’s news, the company also announced that it has launched its Point of Sale and Inventory Management systems as part of Meadow Platform to give cannabis businesses more control over their stock.
Launched in November, Meadow specializes in delivering marijuana a la Uber while also giving dispensaries the tools to run their business and optimize sales. It operates in California and made news in February by being Y Combinator’s first cannabis-themed investment. The company’s SaaS platform now powers numerous dispensaries in the state, claiming that the platform helps the shops “work faster, serve more patients, improve the patient experience, remain compliant with evolving laws and regulations, and increase the value of each patient.”
Meadow isn’t the only company in this space — it competes against the likes of Eaze and Nestdrop.
“We plan to connect the entire cannabis supply chain, from farm to flame,” said David Hua, Meadow’s CEO and cofounder. “We started with the last mile, facilitating access between dispensaries and patients. Going forward, we’ll continue building Meadow Platform to fuel operational efficiency and regulatory compliance from farmers to patients. We have the opportunity to build technology that will become the backbone of this industry — in California and beyond — and we’re thrilled to have an incredible group of forward-thinking investors backing our mission.”