LOS ANGELES, July 17, 2019 /PRNewswire/ -- tökr, the cannabis e-commerce and recommendation platform that connects consumers to trusted cannabis lifestyle brands, announced today that it has secured super seed funding led by a $1 million investment from private equity fund, Merida Capital Partners.
The funds raised in this round will be used to continue growth and expansion nationally, scale the company's CBD e-commerce store, and launch its THC delivery service slated to roll out in Los Angeles later this month. The funds will also support software development, sales and marketing, and enhanced operations.
"Merida Capital Partners is an industry-leading cannabis private equity fund and we are thrilled to begin a strategic partnership with them," said Matt Singer, CEO & Founder, tökr. "Their existing operations across multiple states will allow us to integrate with additional partners and quickly scale to more markets nationwide."
Since its inception in 2018, tökr has aimed to bridge the gap between the modern cannabis consumer and cannabis lifestyle brands by providing a safe and trusted platform for users to discover and learn about credible cannabis products. The direct-to-consumer e-commerce marketplace curates and recommends personalized products based on consumers' diverse needs and lifestyles.
"Merida sees the power of predictive data and curated content as a major influence on the next phase in the fast-evolving cannabis consumer landscape," said Mitch Baruchowitz, Managing Partner, Merida Capital Partners. "tökr fits well within our data-driven ecosystem and can efficiently collaborate with our existing portfolio companies in the digital and branded products verticals to drive brand awareness and personalize the consumer discovery to delivery process."
According to a recent report, the U.S. cannabis market will be a $26 billion industry by 2025 and more than 24 million Americans above the age of 18 consume cannabis regularly.
tökr's mission is to be the world's most innovative and trusted cannabis recommendation and delivery platform. Through personalization, curation, and educational content, tökr allows the modern cannabis consumer to connect to brands that speak directly to them. For more information visit trytokr.com.
About Merida Capital Partners:
Merida Capital Partners is a private equity investment firm targeting fundamental growth drivers underpinning the rapid development of the cannabis industry. Merida's investment emphasis focuses on cultivation technologies, products, and services associated with the evolution of cannabis as an agricultural product, a natural plant-based medicine, a constituent in pharmaceutical formulations, and a recreational consumer product. The Merida team has members who have been working with state-legal cannabis companies since 2009 and investing in cannabis-related companies since 2012.