Poseidon Investment Management today announced the close of a successful $6 million Series A funding round for Distru, a cannabis industry ERP platform.
Since its previous funding round, Distru has seen growth and momentum. It is serving an increasing number of cannabis operators across 25 states and processing more than $2 billion in GMV annually. The platform is designed to simplify compliance and inventory management, automate order workflows, and deliver actionable insights through advanced analytics.
"2024 has been a remarkable year for Distru, marked by efficient growth, achieving strong profitability, and significant product expansion through integrations with Metrc Connect, Dutchie, Treez, Blaze, and Leaflink. We are advancing our mission of consolidating cannabis operations under one platform, providing manufacturers, distributors, brands, and vertically integrated operators with a comprehensive toolset that enhances compliance, operational efficiency, and data-driven decision-making," said Blaine Hatab, co-founder and CEO of Distru. "We closed this strategic funding round to pull in Poseidon with their deep understanding of the cannabis tech sector to support in navigating the next decade of our growth as the most trusted ERP platform in the industry."
The latest round of funding will be directed towards expanding Distru's suite of products, further enhancing compliance, inventory, integration, and order management capabilities. While already profitably growing, the capital will help drive their expansion into 11 additional states, including New York with their Biotrack integration. By consolidating key operational tools into a unified ERP platform, Distru aims to become the backbone of cannabis businesses, empowering the platform to streamline operations, maintain regulatory compliance, and achieve sustainable growth in a complex and evolving market.
