California’s Largest Licensed Cannabis Wholesale Marketplace Nabis Secures $23 Million in Series B Funding
1.6 min readPublished On: July 5th, 2021By News Team
SAN FRANCISCO,– Nabis, a California’s largest licensed cannabis wholesale marketplace platform, announced the company raised $23 million in a Series B funding round. The infusion of capital will support expansion of Nabis’ online wholesaling business that already distributes more than $350 million worth of cannabis products per year.
Prominent Series B investors include FJ Labs, Artemis Growth Partners, Silverleaf Venture Partners, Liquid 2 Ventures and Stanley Tang (Co-Founder, DoorDash). Investors in the company’s $5 million Series A raise, which closed less than a year ago, include Y Combinator and Babel Ventures.
“Nabis is the only end-to-end cannabis wholesale marketplace platform that features lightning-fast fulfillment combined with financial and data analytics services that revolutionize cannabis brand and retail expansion. The rapidly legalizing cannabis market will be one of the first entirely new regulated supply chains to be built after the invention of the internet,” said Vince C. Ning, CEO and Co-Founder of Nabis. “Traditional distribution is dead, and we are enabling the cannabis brands and retailers of today to transact with the most modern technology tools to best serve the exponentially-growing demand for cannabis. The cannabis wholesaling experience should be similar to best-in-class platforms like Faire that are found in more mature industries.”
Nabis will use the funding to grow the Nabis Marketplace, its licensed wholesaling platform that enables the most streamlined sales and delivery experience for brands and retailers. To further accelerate its partners’ success, Nabis will focus on scaling its value-added services, which include Nabis Capital and Nabis Analytics. As recreational markets legalize across the nation, Nabis will also explore out-of-state opportunities to bring the company’s proven, wholesaling platform to brands and retailers in emerging markets for decades to come.
Nabis now distributes 10% of California’s legal cannabis market. In the last 12 months alone, Nabis has grown over 140% in volume, and represents a portfolio of over 100 top-tier brands in the largest cannabis market in the world.
Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.
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