"Uber for marijuana" startup raises $75m from Snoop Dogg and other investors

 
Joe Hall
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Snoop Dogg has repeatedly told the world of his appreciation of marijuana in many of his songs. (Source: Getty)

A marijuana delivery start-up has raised $10m (£6.8m) in a funding round which included investments from Snoop Dogg's Casa Verde Capital and Silicon Valley firm DCM Ventures among others.

Eaze, which has been dubbed the "Uber for weed", does not directly supply marijuana, but instead connects California medical marijuana card-carriers with local dispensaries, claiming it can hook users up with the drug in under 10 minutes. Technically, it is not breaking any law, even though recreational use of marijuana is still illegal.

The firm became the first marijuana startup to attract international investors when it raised $1.5m in November, and has made 3,000 deliveries since its launch.

It holds ambitious plans for growth, including a goal to hire 50 people in 50 days, and plans to expand into other locations where recreational and medicinal marijuana are legally available, founder Keith McCarthy told Quartz.

With US states including Alaska, Washington, DC and Colorado all legalising recreational use of marijuana and 23 states permitting medicinal use, the industry is increasingly capitalising.

In November, a Gallup poll found 51 per cent of Americans supported the drug's legalisation.

Canadian firm Tweed reported record sales of $1.12m (£580,706) in 2014, while Pivateer Holdings raised $75m from investors including Peter Thiel's Founders Fund towards its Marley Natural marijuana brand.

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