Snoop Invests in Cannabis Tech Company

photo by Jørund Føreland Pedersen

Snoop Dogg is, unarguably, a giant in the cannabis community. With his hand in media, clothing, edibles and rolling papers it’s no surprise that he’s tapping into the cannabis technology industry too.

Casa Verde Capital, Snoop’s cannabis-focused venture capital firm, is leading a $2 million seed round in Trellis, a Canadian inventory management firm. The firm primarily develops software, like seed-to-sale tracking, that helps dispensaries and other plant-touching businesses comply with state and federal requirements. Casa Verde Capital doesn’t invest in cannabis companies that work directly with the plant—instead they make early-stage investments in companies that pioneer products and services for the industry.

“We are at a pivotal point in the industry where the market is expanding with new regulations and operators are experiencing growing pains. This makes it all the more important to have strong tools and procedures in place,” said Pranav Sood, CEO and founder of Trellis, in a statement for Business Insider. “We are thrilled to have been able to attract such a strong team of beta clients, investors, and advisors to support us in our vision.”

Trellis operates in both Canada and California, with offices in Toronto and Oakland, and the company expects to expand. Karan Wadhera, managing partner at Casa Verde Capital, believes Trellis will be a key figure as states continue to embrace cannabis.

“As cannabis legalization sweeps the U.S, the compliance burden for cannabis-related businesses will become more and more rigorous,” Wadhera said in a statement for Business Insider. “We have been searching for companies with an elegant solution to address the growing pains of the industry . . . that is exactly what Pranav and his team have built with Trellis.”

Casa Verde Capital’s investment in Trellis comes a year after Tweed Inc. and parent company Canopy Growth Corp. signed a partnership deal—outside of the venture capital firm—with Snoop Dogg through his “Leafs by Snoop” brand.