Prelude, a Brooklyn, New York-based startup building an AI-powered supply chain solution for the cannabis ecosystem, has raised $5.2 million in seed financing.
SaaS Investors
The round was led by Rackhouse Ventures and Casa Verde.
Rackhouse Ventures is an early-stage venture fund investing in emerging AI/ML companies that are building applications and middleware utilizing data and AI/ML as part of their core value proposition to disrupt an existing industry.
Casa Verde is the leading venture capital firm focusing on the cannabis industry. As both the domestic and international cannabis markets continue to evolve and mature, Casa Verde maintains a view that the industry will offer one of the most compelling investment opportunities of our generation.
Prelude Use of Funds
The company will use the funding to develop the first AI-powered supply chain solution for the cannabis industry.
About Prelude
Founded by Michael E. Murphy and Andrew Copp in 2021, Prelude is an inventory and supply chain management platform purpose-built to reduce out-of-stock and overstock at cannabis dispensaries in order to improve sales, profitability, and cash flow. Prelude aims to extend its impact throughout the entire cannabis supply chain, leveraging AI to streamline operations, enhance profitability, and navigate policy-driven financial constraints.
Funding Details
Company: Prelude Products Inc.
Raised: $5.2M
Round: Seed Round
Funding Month: November 2023
Lead Investors: Rackhouse Ventures and Casa Verde
Additional Investors:
Company Website: https://www.prelude.pro/
Software Category: Cannabis Supply Chain Solutions
Source: https://www.prnewswire.com/news-releases/prelude-the-first-ai-supply-chain-solution-for-the-cannabis-industry-raises-seed-fundraising-round-led-by-rackhouse-and-casa-verde-301998564.html