California Cannabis Distributor Nabis Raises More than $five.25 Million
The independent distributor secures considerable investment for continued expansion
OAKLAND, CA (APRIL 18, 2019)—Nabis, one particular of California’s biggest Variety 11 Cannabis Distributors, announced they’ve raised $four million in the course of their second round of financing which officially closed in March 2019. This follows their seed round final summer time when they raised $1.25 million from Silicon Valley’s elite investors, bringing the total quantity raised to $five.25 million due to the fact its inception in 2017.
Crucial investors incorporate Y Combinator, Liquid two Ventures, Soma Capital, Babel Ventures, Paul Buchheit (creator of Gmail), Stanley Tang (co-founder of DoorDash), Clark Valberg (CEO of InVision) and Keisuke Honda (qualified soccer player and coach).
This capital will go towards expansion in each California and out-of-state as Nabis focuses on company development to scale up their cannabis provide chain. Nabis will also be creating a completely-renovated 10,000 sq ft distribution hub in Los Angeles to streamline operations and assistance expanding demand in Southern California. As a tech-driven business, Nabis manages its distribution logistics applying its proprietary cannabis-compliant software program program. They strategy to invest heavily in their software program capabilities to provide the greatest knowledge for brand and retail partners, additional solidifying their positioning as the most trusted logistics service in the market.
Nabis’ most recent round of funding will enable us to considerably scale up our infrastructure and software program solution to continue dominating the market in California. We’ve develop into a best-tier distributor with a statewide network in just more than one particular year of operations and we want to continue bolstering our service level by creating it even simpler for brands to enter the retail industry.
Vince Ning, CEO of Nabis
Because the legalization of cannabis in California in January 2018, Nabis has shipped tens of millions of dollars worth of solution. They at the moment distribute to more than 90% of retailers in California and have more than 40 brand partners on their roster.
“Our new distribution facility will substantially raise our throughput and lessen turnaround time for every shipment,” mentioned Jun S. Lee, President of Nabis. “We at the moment offer 36-hour shipping in all metropolitan and main secondary markets at a 98% on-time delivery achievement price, a service level we want to uphold and extend state-wide by the finish of the year.”
Nabis is a major, independent cannabis distributor primarily based in California with a software program front-finish and infrastructural backend. The tech-driven business gives a lightning-rapidly distribution network for the fulfillment, storage, and sales of wholesale cannabis goods for more than 40 main brands like Canndescent, THC Design and style, Cresco, Beezle, Nasha, and Honey Vape to retailers across the state from tiny delivery companies to main dispensary chains. Founded on a easy mission to modernize the cannabis provide chain in 2017, Nabis presents transparency and efficiency for partners by way of their special software program portal that seamlessly automates just about every aspect of cannabis distribution.
For a lot more data, go to their internet site at www.getnabis.com.