B2B Cannabis Logistics and Compliance Platform WAYV Raises $5 Million Seed Round
Led by Craft Ventures, new funding will help WAYV connect thousands of retailers and brands
LOS ANGELES, October 29, 2018–(BUSINESS WIRE)–The B2B cannabis e-commerce solution WAYV, today announced a $5 million seed round led by Craft Ventures, the investment fund created by serial entrepreneur David Sacks. WAYV enables licensed cannabis companies to access a network of hundreds of licensed brands and receive next day delivery – reliably and safely to every corner of California. The investment will help the company strengthen the WAYV supply chain platform and hire critical resources across key functions.
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. The WAYV marketplace provides this critical bridge.
David Sacks, co-founder and general partner at Craft Ventures
Launched earlier this year, WAYV technology has already facilitated thousands of orders and delivery for myriad top brands to the majority of California retailers. In the newly regulated California cannabis market, both retailers and brands saw the immediate benefit of a highly intelligent fulfillment and logistics platform built for the industry. Key features such as real-time inventory updates are critical to brands, retailers and communities.
Navigating the antiquated cannabis supply chain as a retailer, grower, manufacturer or distributor is costly and cumbersome. That’s why we created WAYV. Our platform catapults the cannabis industry forward with modern technology and a compliant marketplace – already in use by hundreds of brands and distributors.
Keith McCarty, CEO & co-founder of WAYV
WAYV’s marketplace streamlines fulfillment, integrates compliance with payment terms, and provides real-time product tracking. Now, retailers can build long term, trusted relationships with brands.
Headquartered in Los Angeles, WAYV is an automated, on-demand supply chain logistics platform servicing California’s growing cannabis industry. WAYV technology streamlines the traditional business-to- business process, including transport, sales, and payment through a one-stop website that integrates regulatory and compliance checks. Founded in 2017 by veteran technology executive Keith McCarty, WAYV serves as a transparent, efficient tracking and compliance platform that is creating a new standard and surpasses the fulfillment experience of non-cannabis markets in today’s on-demand world.