Keith McCarty doesn’t smoke weed, but he sure is riding high on the marijuana wave.
TechCrunch reports that the co-founder and former CEO of marijuana delivery startup Eaze has raised a $5m seed round for a new company that specializes in logistics for the electric lettuce.
Say hello to WAYV
Keith McCarty, who mysteriously stepped down from Eaze 2 years ago, launched WAYV, a B2B cannabis logistics platform that delivers inventory to weed-tailers — an idea that came to McCarty after witnessing the hardship of supply chain logistics at Eaze.
The LA-based company connects cannabis companies to brands and provides next-day delivery of cannabis products — because, just like consumers, dispensaries also need weed dealers.
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In other words, WAYV is essentially Eaze for the cannabis enterprise, not the consumer.
With new industries come new business models
Now that the majority of Americans favor legalization (90% in favor of medical “prescribed by a doctor,” and over 60% for recreational), weed is a rising corporate star. But, B2B weed-delivery is just the stem of the flower.
Recently, hedge fund Tiger Global led the funding round for cannabis-tracking company Metrc, a software developer that keeps track of marijuana through the commercial supply chain — a pertinent niche, as the US continues to wrestle over regulations.
And, as VC investment in cannabis startups continues to grow ($700m raised since 2014), you can bet there’s more green in weed startups’ futures.