Distru, a maker of supply chain software for the cannabis industry, has raised $3 million led by Felicis
Distru, a nearly three-year-old, Oakland-based startup whose platform aims to help track cannabis through its seed-to-sale process, has raised $3 million in seed funding led by Felicis Ventures, with participation from Village Global, Global Founders Capital, and numerous notable angel investors, including Elad Gil, Katie Stanton, and Avichal Garg.
The deal is an interesting one for numerous reasons, including that it marks Felicis’s first investment in the cannabis space after many months spent looking at a wide array of related startups, says Niki Pezeshki, a principal with the firm. Indeed, though interest in cannabis-related products and services is growing among traditional venture firms as a growing number of states move to legalize and regulate marijuana, there’s lingering concern about what will happen and when at the federal level.
Distru is also entering into a space that tech investors can grok: it’s a software as a service company, one … Read the rest