GrowerIQ Raises $3M CAD Seed Round to Revolutionize Cannabis Management Around the Globe
GrowerIQ, the leading cannabis enterprise resource planning (ERP) platform, today announced it recently closed an oversubscribed $3 million CAD ($2.3 million USD) seed round. The round was co-led by Golden Section and MaRS IAF, with participation from LAGO, Delbridge, GTM Fund and Gaingels.
Non-cannabis ERP systems don't work for cannabis production, so producers are stuck using Excel or outdated software that do not talk to each other. This makes it hard to gather data for compliance reporting or analysis.
GrowerIQ was founded to help cannabis companies simplify operations, stay compliant and leverage data to improve their bottom line. The company's ERP includes modules for cultivation, manufacturing, warehouse, CRM, orders and quality management.
Launched in 2020, GrowerIQ has become the go-to solution for cannabis businesses of all sizes, with customers in more than a dozen countries. The company has been credited with driving significant operational efficiencies and savings for its customers.
"This funding allows us to heavily invest in our tech and continue building the most comprehensive cannabis management platform on the market," said GrowerIQ founder and CEO, Andrew Wilson. "We're thrilled to have the support of such experienced investors as we grow our business and help more cannabis companies streamline their operations."
"We invest in founders who have subject matter expertise and vision," said Golden Section Executive Director, Andrew Smith. "The company's leadership certainly meets those criteria, as it seeks to solve a major pain point in an emerging industry that will help businesses be more efficient and compliant on a global scale. The impressive customer base and track record of success, coupled with a focus on capital efficiency and product quality, make this a natural fit for our portfolio. We're excited to partner with GrowerIQ as they scale their business and continue innovating."
The MaRS IAF team said, "The GrowerIQ team impressed us with their deep understanding of the customers and market, and how their needs informed the product development. Throughout the process the team continued to execute on their go to market strategy and consistently drive strong growth. It was quite clear that GrowerIQ was solving a very meaningful problem for their customers. It's been great to work with the team and we look forward to being part of the growth journey."
About GrowerIQ
GrowerIQ is the operational backbone ERP that unites the fragmented systems required by cannabis production facilities around the world. The company now powers facilities in more than a dozen countries, and four languages – enabling true seed-to-sale traceability. For information, visit www.groweriq.com.
About Golden Section
Golden Section is a Houston-based venture capital fund started by experienced business software founders that invests in early-stage B2B SaaS companies. The fund aims to partner with founders, pre-seed to post sale, through a differentiated offering to reduce confusion and chaos, augment team expertise, with an emphasis on capital efficiency, balance, and revenue growth. Our mission is to journey together with founders towards their meaningful exit. www.goldensection.com
About MaRS Investment Accelerator Fund
MaRS Investment Accelerator Fund (IAF) is a leading seed stage fund investing in high-potential IT, health, and cleantech companies. IAF has, over a 10-year history, partnered with 150+ founders building world-class companies. www.marsiaf.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005435/en/
Contact information
Andrew Wilson, CEO, GrowerIQ, info@groweriq.com, +1 (855) 892-7500
Laurenn Wolpoff, Bospar PR, laurennw@bospar.com, +1 (917) 518-9011
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG’s MidOcean Energy to Acquire Tokyo Gas’ Interests in Portfolio of Four Australian Integrated LNG Projects for US$2.15 Billion7.10.2022 11:44:00 EEST | Press release
MidOcean Energy (“MidOcean”), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with Tokyo Gas Co., Ltd (“Tokyo Gas”) to acquire Tokyo Gas’ interests in a portfolio of four Australian integrated LNG projects. Under the terms of the agreement, MidOcean will acquire Tokyo Gas’ interests in Gorgon LNG, Ichthys LNG, Pluto LNG and Queensland Curtis LNG for total cash consideration of US$2.15 billion. These integrated projects span Australia’s western and eastern seaboard and are major suppliers of LNG to Asia, with a diverse set of long-dated take or pay contracts with investment grade counterparties, and to Australia’s domestic gas markets. The portfolio is expected to generate approximately 1 million tonnes per annum of LNG net to MidOcean, production that is underpinned by long-life reserves and a globally competitive cost structure. The portfolio bene
Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe7.10.2022 10:00:00 EEST | Press release
Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced that it has agreed to provide financing to Move About Group AB (“Move About”), a Swedish electric mobility service, to support the roll out of more than 150 electric vehicles and electric vehicle charging infrastructure throughout Europe. The car funding provided by Slate will be used to bolster Move About’s electric car fleet, which currently owns and operates over 800 electric cars and has more than 71,000 users on its platform. Move About is a Sweden-based electric mobility service that delivers environmentally friendly and cost-effective mobility solutions to over 300 locations across Sweden, Norway, and Germany. Move About has partnered with some of the largest companies across Europe to save tons of carbon dioxide emissions every year. Since it was founded in 2007, Move About has become the largest provider of emission-free carsharing in the Nordic region. Christian S
LabGenius Secures Government Innovation Grant to Expand ML-driven Drug Discovery Platform, EVA™7.10.2022 10:00:00 EEST | Press release
LabGenius, a pioneer in the use of machine learning (ML) for antibody engineering, today announced that it has been awarded a highly competitive SMART grant from Innovate UK. Grants from the £25 million fund allow businesses like LabGenius to realize the potential of new ideas by investing in game-changing, commercially viable research and development projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221007005023/en/ To date, LabGenius’ EVA platform has been used to co-optimize mono- and multi-specific single domain antibodies for biochemical and bio functional properties, including stability, potency and selective tumor cell killing. This grant will be used to further expand EVA 's capabilities by accelerating the platform’s ability to optimize antibody-based immune cell engager molecules. Many existing antibody therapeutics have poor selective cell killing profiles, which can result in on-target, off-tumor effects,
Valbiotis Accelerates Its Marketing Strategy7.10.2022 08:35:00 EEST | Press release
Regulatory News: Valbiotis (FR0013254851 – ALVAL, PEA / SME eligible), a Research and Development company committed to scientific innovation for preventing and combating metabolic and cardiovascular diseases, is accelerating its marketing strategy. Sébastien PELTIER, Chairman of the Valbiotis Board of Directors, states: "Today, we are embarking on a complementary development cycle to commercialize our innovative active substances, with the aim of providing breakthrough solutions for reducing the risk factors of cardio-metabolic diseases. Our new strategy aims to accelerate the growth of Valbiotis and to boost its capacity for innovation using two main levers: firstly, the signing of international partnerships (global or regional) with major players in the nutrition and healthcare sectors, supported by the specialist firm AEC Partners1, and secondly, the company's own marketing of its products on the French market. This dual strategy, creating value, will enable Valbiotis to rapidly tar
Illumination and Nintendo Launch First Trailer for The Super Mario Bros. Movie, which will be released in 20236.10.2022 23:37:00 EEST | Press release
Illumination (HQ: Santa Monica, CA, USA; Founder and CEO: Chris Meledandri) and Nintendo Co., Ltd. (HQ: Kyoto, Minami-ku, Japan; Representative Director and President: Shuntaro Furukawa, “Nintendo” hereafter) today launched the first trailer for The Super Mario Bros. Movie, the new animated film based on the world of Super Mario Bros. during the Nintendo Direct which was streamed today. “We are thrilled to finally share the very first look at The Super Mario Bros. Movie,” said Chris Meledandri, Illumination’s Founder and CEO. “Nintendo’s Mario and Luigi are the most iconic and beloved characters in the gaming universe and it has been an incredible honor to work with Miyamoto-san over the past few years to bring this story to film in a way that is authentic to its roots.” "What kind of movie should Super Mario Bros. be?” said Shigeru Miyamoto, Representative Director, Fellow of Nintendo. “We have been working for a very long time with Chris of Illumination thinking about this question.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom