Marijuana tech firm Fyllo completes $30 million Series B capital raise

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Chicago-based ancillary marijuana company Fyllo said Tuesday it completed a $30 million Series B capital raise intended to fund further growth into the cannabis sector as well as other “highly regulated industries.”

In a news release, Fyllo said the raise brings its investment totals to almost $60 million.

The tech company, which specializes in marketing and compliance solutions, simultaneously announced the addition of Peter Kraus, the CEO of Aperture Investments, to its board of directors.

Participants in the recent funding round – which was led by JW Asset Management and Sol Global – included K2, Entourage Effect Capital, George Steinbrenner IV, Arcadian Capital Management, Salveo Capital and 2 NRP Managers, an investment group led by Ben Lurie.

Fyllo recently acquired CannaRegs for $10 million and DataOwl in a bid to rapidly expand its suite of services for cannabis businesses.