After closing up shop and selling off its assets, troubled cannabis delivery company Eaze has announced $10 million in Series B funding that will allow the company to reopen operations under new ownership. The investment will fund the reopening of 70 Eaze and Green Dragon locations across California, Colorado, Florida, and Michigan, including 57 retail stores, 11 delivery hubs, and two production facilities.
Eaze Inc. may be under new ownership but it will still be run by CEO Cory Azzalino.
"We are excited to build on the accomplishments of the first 10 years of Eaze Technologies Inc., and expanding our retail, delivery, and private label brands into new markets. We deeply value the contributions of all those who were part of Eaze Technologies Inc.'s journey and remain committed to creating a company that continues to push forward with innovation and care. As we move ahead with this new chapter, Eaze Inc. is focused on sustainable growth and delivering for our customers and communities. The $10 million investment will allow us to strengthen our supply chain, enhance the customer experience, and set the foundation for long-term success," he said in a statement.
Key initiatives with the Series B funding include:
Recruiting for more than 1,000 operational positions across four states.
Expanding Florida production capacity from 32,000 square feet to 64,000 square feet of flowering canopy.
Opening new dispensaries and expanding delivery capacity across Florida, California, Colorado and Michigan.
Launching refreshed brand marketing campaigns highlighting Eaze's newly launched scheduled delivery capabilities, and new product innovation at all Green Dragon locations.
Building new brand partnerships across all territories and developing new market-specific product offerings.
With this new funding, Eaze will begin hiring to support expanded operations and ensure continued growth across all markets.
Eaze is unveiling its rebound plans not long after Azzalino had taken to LinkedIn to announce the company's plans to shut down by the end of 2024.
“We want to express our deepest gratitude for your hard work, dedication, and loyalty through your tenure at Stachs LLC,” he wrote in a letter to employees. “Your contributions have been invaluable.”
