MainStem, Inc., a Seattle, WA-based cannabis e-commerce technology company, closed its $2.175M Series B funding round.
The round, which brings total funding to date to over $3.35m, was led by Merida Capital Partners, with participation from Poseidon Asset Management and others.
The company intends to use the funds to expand the MainStem Affiliate (MAP) and the MainStem Vendor (MVP) programs including software development, sales and marketing, and enhanced operations.
Led by Alen Nguyen, Chairman and CEO, Craig McCallum, CFO, MainStem is a technology-based ancillary product distribution company in the regulated cannabis industry, with over 10,000 products to select. The company integrates its platform into industry software to maximize its customer reach and simplify the procurement process.
MainStem, recently partnered with Kush Bottles Inc. (OTCQB: KSHB), a large publicly traded ancillary supply company.