Genetica, a San Francesco, CA-based AI powered cannabis retail platform, closed $500K seed funding.
The round was led by Ens-emble, CEO of Talent Resources Ventures and Genetica Adviser Michael Heller, Show Me Organics, Executives from Hara Supply, and Mitchell Harounian.
The company intends to use the funds to expand into more dispensaries across the country and other retailers outside of the cannabis industry, like grocery stores and pharmacies.
Established in 2020 and led by CEO Ben York, Genetica provides Flora AI, a platform that analyzes over 650 million data points to provide precise product recommendations, ensuring customers find the perfect product in line with their needs, biochemistry, and current in-store inventory. This tool enriches the customer experience and empowers store employees. Its flagship product, Flora Match, leverages Flora AI to deliver personalized product recommendations by analyzing over 650 million data points, including in-store inventory, customers’ dietary habits, activity levels, age, medical conditions, and desired effects. This AI tool complements the role of store employees, opening up the potential for upselling and add-on sales, thereby driving revenue growth. The product suite is set to expand later this year with Flora OS, an all-in-one operating system using AI to optimize all retail operations.
The company is on pace to launch its software into more than 350 locations in the United States and dozens of retail and pharmacy entities internally over the next quarter.
FinSMEs
24/05/2023