Participated · Seed · Sep 2020

Canix offers an ERP platform that focuses on cultivation forecasting, production planning and compliance for cannabis operators. Its tools surface present and past inventory value across multiple variables and include predictive features to forecast yields, staffing needs and price timing. The product helps operators calculate profits per gram and plan cultivation schedules to meet future sales targets. Canix says its software is used by 2,300 licenses across 400 companies in 17 states and six countries, and it is active in 13 states outside California. The company plans to expand further across the U.S. and into Canada, starting with Illinois and then moving into New York, Utah, Washington and New Jersey. Expansion work includes integrating with state-specific compliance systems and adapting to different labeling, manifesting and regulatory rules. Canix offers an ERP platform purpose-built for commercial cannabis cultivators, emphasizing faster data entry and regulatory compliance via integrations with Metrc and common bookkeeping software. The product connects to RFID scanners and Bluetooth-enabled scales and handles invoicing, costing, reporting and forecasting. Forecasting features claim to predict yield up to roughly 90 days from clones, and the company says its software reduces labor costs to improve grower margins. Canix launched in June 2019 and participated in Y Combinator’s summer 2019 program. In a little over a year it acquired more than 300 customers across over 1,000 growing facilities and tracked movement of 2.5 million plants. The company positions itself against incumbents like MJ Platform and BioTrack, differentiating on improved data-entry workflows.

Participated · Series B · Jan 2018

Canndescent is a Santa Barbara, Calif.-based cultivator of premium cannabis led by CEO Adrian Sedlin. The company sells flower under the Calm, Cruise, Create, Connect and Charge labels and operates two brand tiers: Canndescent (ultra-premium) and goodbrands (middle market). It has launched its brands into other product categories including vapes and ingestibles and into additional geographies. Consumers can currently purchase its products in California and Nevada. Canndescent raised $27.5M in a Series C financing to support growth. The company plans to use the proceeds to expand into vapes and ingestibles, grow in Massachusetts, Nevada, Canada and beyond, and deepen investments in both of its brands. Canndescent is a Santa Barbara-based cannabis cultivator that grows and markets premium flower for the adult-use market. Led by CEO Adrian Sedlin, the company applies practices from consumer-packaged goods, advanced agriculture and luxury lifestyle marketing. It opened a municipally-permitted cultivation facility in 2016 and launched a premium flower brand in California in 2017. It is now opening a second facility, quadrupling its production to 48,000 square feet, and plans to expand production presence to over 100,000 square feet. Consumers can purchase Canndescent products at dispensaries and delivery services throughout California. The company raised $10m in Series B funding to finance new product launches and further expand production capacity. Canndescent cultivates and markets a branded line of premium cannabis flower produced, packaged and distributed in accordance with state and local laws. The company closed a $6.5M seed funding round to support its operations. It intends to use the proceeds for working capital, marketing, and additional property, plant and equipment. Canndescent planned to open a facility in Desert Hot Springs, CA the following month, operating under a municipally issued conditional use permit specifically for cultivation. The business emphasizes compliant, packaged flower as its core product while expanding cultivation capacity and market presence.