The law of supply and demand is simple. Now that more municipalities have legalized marijuana, startups like Eaze are moving in to fill the demand.
On Tuesday, the San Francisco-based company, which delivers the drug quickly and conveniently to consumers’ homes, announced it has raised $10 million in Series A round funding led by DCM Ventures, Fresh VC, 500 Startups and other investors. Rapper Snoop Dogg’s Casa Verde Capital has also contributed an undisclosed amount to the venture.
The company is one of many looking to capitalize on the budding pot industry in the United States, growing due to the increasing number of states legalizing the drug. It hopes to connect medical marijuana patients in the state of California with local distributors that offer delivery services in lightning-fast time – sometimes in as little as 10 minutes.
Eaze will work with “only the best” dispensaries, said company founder and CEO Keith McCarty. The company doesn’t plan on providing an extensive list of products, but a limited number of edibles and concentrates that are popular with users. The company will facilitate the relationship between the buyer and the seller, relying on the seller to actually handle fulfillment of the order, much like a Seamless for pot.