GrowerIQ, a Toronto, Canada-based cannabis enterprise resource planning (ERP) platform, announced that it closed an oversubscribed CAD $3 million ($2.3M) seed funding.
The round was co-led by Golden Section and MaRS IAF, with participation from LAGO, Delbridge, GTM Fund, and Gaingels.
"This funding allows us to heavily invest in our tech and continue building the most comprehensive cannabis management platform on the market," said GrowerIQ founder and CEO Andrew Wilson. "We're thrilled to have the support of such experienced investors as we grow our business and help more cannabis companies streamline their operations."
GrowerIQ was founded to help cannabis companies simplify operations, stay compliant, and leverage data to improve their bottom line. The company's ERP includes modules for cultivation, manufacturing, warehouse, CRM, orders, and quality management.
Company: Wilcompute Systems Group Inc.
Raised: CAD $3.0M
Round: Seed Round
Funding Month: September 2022
Lead Investors: Golden Section and MaRS IAF
Additional Investors: LAGO, Delbridge, GTM Fund, and Gaingels
Company Website: https://groweriq.ca/
Software Category: Cannabis Management Software
About the Company: GrowerIQ is a robust cannabis management software platform that helps licensed producers boost traceability, lower operating costs, stay compliant, and improve overall product quality management. It is the first platform to combine all facility systems used for the management of cannabis cultivation into a single interface, including ERP, sensors, QMS, and controls. GrowerIQ is the operational backbone of an ERP that unites the fragmented systems required by cannabis production facilities worldwide. The company now powers facilities in more than a dozen countries and four languages—enabling accurate seed-to-sale traceability. GrowerIQ has become the go-to solution for cannabis businesses of all sizes, with customers in more than a dozen countries. The company has been credited with driving significant operational efficiencies and savings for its customers.