Trym raises $3.1M seed to grow its cannabis cultivation platform
Commercial cannabis operations often rely on software platforms to track and forecast crops from seed to sale. Trym today is announcing a $3.1 million seed round that will help the company expand its software offering.
Trym’s solution offers commercial growers a robust set of features, including integration with the regulatory platform Metrc and environmental sensors. Using the system, growers gain a powerful tool to grow their plants and business thanks to comprehensive analytics capabilities and operations management.
Trym’s seed round came from friends and family, along with notable investors. Out of the $3.1 million round, $1 million came from friends and family. At the same time, 7thirty Capital and Delta Emerald Ventures co-led the preferred round of $2.1 million with participation from Welcan Capital, Arcview Collective Fund and others. Trym says the round was oversubscribed.
“Our investors are a perfect match with Trym’s DNA,” said Matt Mayberry, CEO and co-founder of Trym in a released statement. “They understand that connectivity is the future of cannabis agriculture and that to stay in the game, commercial cultivators have to closely track and manage all aspects of their business. A disruption is happening in the market, and we are helping to drive it.”
The cannabis software market is quickly gaining new entrants as more developers discover the exploding market. Gone are the days of growers scribbling notes on pads of paper. The legal cannabis industry in the United States is quickly adapting to the latest platforms to increase yield and decrease the amount of bookkeeping needed to stay up with ever-changing regulations.
“The growth opportunity in the cannabis cultivation software market is very exciting for us,” Micah Tapman, managing partner at 7thirty Capital, said in a released statement. “Trym is disrupting cannabis cultivation with a comprehensive software platform that streamlines business and connects the whole team for more efficient farm management. We have watched Trym grow since 2019, and their progress has been exceptional. We are delighted to participate in this round.”
Two weeks ago, at TechCrunch Disrupt 2020, a similar company called Canix won TechCrunch’s Startup Battlefield competition. Like Trym, Canix gives growers a platform to track growth and stay current on regulations.
This post first appeared here: https://techcrunch.com/2020/09/29/trym-raises-3-1m-seed-to-further-build-its-cannabis-cultivation-platform/