It’s been an exciting year for the marijuana industry and one company has been definitely basking in the glory of the high growth industry.
Weed delivery start up company Eaze has just raise $27 million in Series B financing. The company also said it had a 300% year over year increase in its gross sales.
This may look impressive and it is, but the company has also been going through $1 million in cash a month.
According to the company’s CEO Jim Patterson, “We are a tech startup…we’re investing in growth,” he told TechCrunch when asked about the high burn rate. “We’re investing the money now in what’s clearly going to be a very big market.”
California-based Eaze uses proprietary software to help consumers with a medical marijuana license in the state buy pot from local dispensaries and then delivers those purchases to their door.
