Snoop Dogg’s Casa Verde Capital Invests in Eaze
If you are interested in figuring out what international hip-hop superstar and marijuana advocate Snoop Dogg will be best remembered for, put another check in the cannabis column—Dogg’s Casa Verde Capital venture firm, in addition to other investment firms, recently invested in Eaze, a medical marijuana delivery service in California, during the company’s Series A round, which closed out at $10 Million.
Eaze, which launched last July and is already available in 34 cities in California, takes a page from the popular ride-share app Uber by connecting consumers to participating dispensaries via a smartphone app and a fleet of vetted drivers. The app allows customers to scan a menu of products, select their choice as well as a nearby delivery driver, and promises delivery in 10 to 15 minutes. Users can rate drivers and products by posting reviews in the app.
Eaze is scheduled to begin service in Los Angeles soon, which is sure to offer an enormous market and stiff competition from other existing marijuana delivery companies. One of those companies, Speed Weed, suggests on its website that “Home delivery is how Hollywood’s elite have been receiving their medical marijuana for years. Famous actors, CEOs, movie producers and other high-profile people can not and will not stumble into a dispensary.”
Perhaps it is this strong desire for product amongst the 1 percent that keeps Los Angeles lawmakers from prosecuting delivery services, which are technically prohibited by the city’s Proposition D but have thus far, with few exceptions, been allowed to operate freely. Proposition D regulates the legal sale of marijuana and has been responsible for the shuttering of 200 dispensaries found to be in violation of the law.
Speed Weed promises service within an hour, depending on traffic, and that just might be what gives Eaze the edge. Borrowing from the Uber model, creating a huge network of drivers across a given service area, means there is always the possibility of a delivery vehicle being nearby.
Snoop Dogg’s Casa Verde Capital was formed with the distinct purpose of seeding startups that blend tech and legalized cannabis. Dogg is one of several celebrities to eagerly get involved in the marijuana market, and probably second most likely behind Willie Nelson to use returns from these investments on the purchase of marijuana for personal use.