A former executive of marijuana tech startup Eaze has raised $5 million for a new B2B logistics and e-commerce platform, Wayv.
Based in Los Angeles, Wayv allows marijuana retailers to buy from a network of licensed cannabis companies and receive next-day deliveries. The platform integrates real-time tracking, regulatory and compliance features.
Keith McCarty, a co-founder and former CEO of cannabis delivery firm Eaze and a former executive at social networking start-up Yammer, heads the new company.
The $5 million raise was led by Craft Ventures, a tech-focused fund co-founded by former PayPal executive David Sacks.
“As California moves to a regulated and licensed system, there is a long tail of retailers and brands in the industry that need to be connected,” Sacks said in a news release.
Distribution is an ongoing challenge across California, which requires a separate license to transport cannabis.