INSUBCONTINENT EXCLUSIVE:
A growing number of states has legalized retail marijuana sales, but ensuring that everything works as advertised is no easy task
Among the many things that regulators have to concern themselves with are granting licenses to dispensaries, retail sales, delivery,
distribution and ensuring marijuana has been tested for pesticides and other materials before it hits the shelf (or doorstep).In California,
commercial cannabis supply chain is made by Metrc, a low-flying, five-year-old, Lakeland, Florida company
first outside round of funding, in the form of $50 million from Tiger Global Management and Casa Verde Ventures, the three-year-old,
cannabis-focused venture firm that was famously co-founded by rapper Snoop Dogg but is largely managed by Goldman Sachs and Nomura
(Worth noting: Green Bits launched at TechCrunch Disrupt in 2015.)Certainly, that kind of working relationship helps, but the supply chain
expertise of Metrc CEO Jeff Wells also presumably gave Tiger and Casa Verde confidence in their investment
Not so long ago, Metrc was part of a larger company called Franwell that was founded by Wells in 1993 and that quickly began developing
products for the RFID market
More specifically, Wells tells us, Franwell began focusing on cold chain management and fresh foods, building up resources, research and
domestic and international regulators.Surely, as more state and sovereign governments legalize cannabis, compliance will play an even more
