Hoodie Analytics, a Chicago, IL-based cannabis data and technology company, raised $5M in Series A funding.
The round was led by Measure 8 Partners with participation from Entourage Effect Capital and Satori Investors. Early investors in the series A round also included Greenlight Investors and OlsonUbben via Tony Olson, Founder and Chairman of SPINS. Continued participation came from insiders such as Arcview Ventures Seed Fund, Arcview Collective Fund, Greenlight Investors, and Tech Nexus. Under the terms of the Capital Raise, $5M has initially closed, with another $1M open for a follow-on raise.
The company intends to use the funds to accellerate the market expansion of its newly launched platform.
Led by CEO Wes Shepherd, Hoodie Analytics provides a cannabis market insights and product data management platform tracking the daily movements of the market giving users access to the best people, processes, and data which deliver the critical factor towards building a winning brand.
Additionally, the company further strengthened its leadership and governance structures with the appointments of David Navama, Co-founder of Vitamin Capital and former President and Chief Innovation Officer of SPINS. Timur Sultanov from Measure 8 Partners also joined the Board of Directors, as well as observers Andy Sturner, Partner at Entourage Effect Capital, and John Campbell of Satori Investors.
FinSMEs
27/06/2024