Distru raises $6 million in Series A
Distru, a seed-to-sale ERP (enterprise resource planning) platform for the cannabis industry raised $6 million in a Series A funding round with Poseidon Investment Management. Distru said the money will help drive its expansion into 11 additional states, including New York with its Biotrack integration. It will also be used to expand the company’s suite of products.
“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, adding, “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.”
Distru said it is operating in 25 states and has processed over $2 billion in gross merchandise value. Its platform simplifies compliance and inventory management, automates order workflows, and delivers actionable insights through advanced analytics. The company has a five-star rating on the website G2.
The announcement said the funding was made possible with the support of Global Founders Capital. Its previous funding round was led by Felicis with contributions from investors Elad Gil and Avichal Garg.
“Distru’s clear focus on supporting cannabis operators’ success and compliance, coupled with a robust and scalable platform, aligns with our commitment to backing transformative solutions in the sector. They have built the best in class Cannabis ERP and we see that advantage compounding over time,” said Morgan Paxhia, Poseidon Investment Management. Poseidon has long supported technology companies in the cannabis industry.
