In yet another instance of investors looking to get high on weed-related technology, Eaze — the company widely dubbed “Uber for pot” — has just raised $27m from VC firms Baily Capital, Kaya Ventures, and FJ Labs.
CEO Jim Patterson said they plan to use the new funding to expand geographically and to help pay for higher-end engineering talent.
With a growth of 300% since last year, Eaze is chilling harder than their own customer base.
But what up with that high burn rate, bro?
According to Market Watch, Eaze has been burning through about $1m a month in green (cash, not weed… well, maybe both).
The company is rapidly expanding to new markets and trying to ship $1B worth of weed by 2020 — though constantly-changing legislation keeps impeding them as they navigate uncharted waters.
Cool as a cucumber
Big Dog Patterson claims not to be worried by this recent spending attack and is writing it all off as growth (including the $10m round the company raised in 2015).
He’s just got to hope that Amazon doesn’t decide to get into the weed game anytime soon.
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(via The Hustle)