TIME Startups

Snoop Dogg Just Invested in a Weed Delivery Startup

2015 iHeartRadio Music Awards - Arrivals
Steve Granitz—WireImage/Getty Images Snoop Dogg arrives at the 2015 iHeartRadio Music Awards at The Shrine Auditorium on March 29, 2015 in Los Angeles, Calif.

Eaze promises to deliver medicinal marijuana in less than 10 minutes

Snoop Dogg is one of several investors helping to fund Eaze, a California-based startup that promises to deliver medical marijuana to your doorstep in less than 10 minutes.

Eaze has raised more than $10 million in funding from DCM Ventures, Fresh VC, 500 Startups and Snoop Dogg’s Casa Verde Capital, Quartz reports. Founded by former Yammer employee Keith McCarty, Eaze raised $1.5 million of seed funding in November and became one of the first pot companies to get international investors, perhaps because the business only provides the technology, not the marijuana itself. In the nine months since its launch, Eaze has made 30,000 deliveries, and now the startup is looking to expand its team by hiring 50 people in the next 50 days.

The legal marijuana industry is growing fast: Alaska, Washington D.C., Colorado and Washington state have all legalized recreational marijuana, and 20 states have legalized medical marijuana. And other pot companies are also getting in on the action—according to CB Insights, weed businesses raised a total of $104 million in 59 deals over the course of 2014, with Privateer Holdings (the company selling Bob Marley-branded weed) raking in a $75 million investment from Peter Thiel’s Founders Fund.

[Quartz]

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