Eaze, the Bay Area cannabis delivery app, is making the news today after drawing an eye-catching $10 million in investments earlier this week. Snoop Dogg’s firm Casa Verde Capital is among the investors, but the lion’s share comes from DCM Ventures, the same tech investment firm that put $1.5 million of seed money into Eaze last November. Though cannabis-related companies have previously had some trouble getting commitments from institutional investment firms, and just as much trouble getting bank accounts, this amount of investment cash signals that some cannabis businesses are ready to go full on white collar. This news comes only a week after the MassRoots app went public on the stock market and the Bob Marley estate-sponsored marijuana brand garnered $75 million in funding.
DCM’s Kyle Lui tells Quartz that the fragile legality of marijuana collectives does not scare the investment company. “In a lot of jurisdictions, Uber was breaking the law, Airbnb was breaking the law,” he says. “I think being forward-thinking, you have to see where the world is going rather than where you currently are.”
Called the “Uber of weed,” the Eaze app is as much like Eat 24 – connecting local businesses with customers for a piece of the action – as it is like a driving service such as Lyft or Uber. Eaze reports having made 30,000 deliveries since its launch last fall. Currently, the app only operates in San Francisco, but they’ve announced plans to spread to Nevada, Arizona, Washington, Colorado, Oregon, and other areas of California soon. “The plan is to be in every market as quickly as possible that allows for medical marijuana and even recreational use of marijuana,” says Eaze employee Keith McCarty.
If they pull off success in those other markets, Eaze would become the first cross-state recognizable brand in marijuana distribution, signaling the start of a new era for the normalization of weed consuming. In states with legalized medical and recreational pot, memories of going to your guy’s basement for a bag are getting dimmer and dimmer. Now you just press a button. Our kids will have a voice-activated command for it to be teleported into their room like food on Star Trek. Well, it’s possible, isn’t it?