SAN FRANCISCO, Nov. 20, 2024 — Poseidon Investment Management (“Poseidon” or the “Company”), a leading cannabis industry investor, announced a successful $6 million Series A funding round for Distru, a leading cannabis ERP platform. This funding, secured with the support of unnamed investors, solidifies Distru’s position as a top system-of-record for cannabis businesses.

Since its prior funding round (led by an unnamed investor and including contributions from other unnamed investors), Distru has experienced substantial growth, serving an expanding client base across 25 states and processing over $2 billion in annual GMV. The platform’s impact stems from its ability to simplify compliance and inventory management, automate order processes, and provide data-driven insights.

“Distru’s 2024 success includes strong growth, profitability, and product expansion via integrations with Metrc Connect, Dutchie, Treez, Blaze, and Leaflink. Our goal is to unify cannabis operations onto one platform, offering manufacturers, distributors, brands, and vertically integrated businesses a complete toolkit for enhanced compliance, operational efficiency, and data-driven decision-making,” stated Blaine Hatab, Distru’s co-founder and CEO. He continued, “This strategic funding round brings in Poseidon, leveraging their cannabis tech expertise, to guide our growth as the industry’s leading ERP platform.”

These funds will expand Distru’s product offerings, improving compliance, inventory, integration, and order management features. While already profitable and growing, the capital will facilitate expansion into 11 additional states, including New York (with Biotrack integration). By integrating key operational tools into a unified ERP, Distru aims to become the core of cannabis businesses, streamlining operations, ensuring compliance, and promoting sustainable growth in a dynamic market.

Poseidon Investment Management, renowned for its cannabis industry investments, has consistently supported technology companies building critical infrastructure within the sector. “Distru’s focus on supporting cannabis operators’ success and compliance, combined with its robust and scalable platform, aligns perfectly with our investment strategy. They’ve created a best-in-class Cannabis ERP, and we anticipate continued success,” commented Morgan Paxhia of Poseidon Investment Management.

Distru is well-positioned to become a comprehensive platform for the entire cannabis supply chain, driving digital transformation across cultivation, distribution, and retail. Distru’s dedication to operational excellence and industry innovation makes it the preferred ERP for forward-thinking cannabis businesses.

About Distru
Distru is a leading seed-to-sale ERP platform for the cannabis industry, providing comprehensive solutions for managing inventory, orders, and customer relationships. Serving hundreds of licensees across the United States, Distru.com offers top-tier Metrc integration and exceptional customer support, transforming how cannabis operators manage their businesses.

SOURCE Poseidon

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