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Software company Trym announced Tuesday that it has secured $3.1 million in financing through a seed funding round.
Besides $1 million in funding provided by friends and family, the rest of $2.1 million comes from the preferred round co-led by 7thirtz Capital and Delta Emerald Ventures.
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Welcan Capital and Arcview Collective Fund also took part in the oversubscribed round.
The Novato, California-based firm intends to utilize the proceeds to develop the software further and introduce its farm management platform into new markets.
Trym CEO Matt Mayberry (pictured) called the company's investors a "perfect match with Trym's DNA." They're also aware that "connectivity is the future of cannabis agriculture and that to stay in the game," he added.
"A disruption is happening in the market, and we are helping to drive it," Mayberry said.
Trym, which was founded in 2018, specializes in farm management software developed for cannabis cultivators.
The platform is intended to drive profitability through enabling optimization and management of daily operations.
Currently, Trym collaborates with over 80 cultivators and multi-state operators across fourteen states.
7thirty Capital Managing Partner Micah Tapman says the "growth opportunity in the cannabis cultivation software market is very exciting."
"We have watched Trym grow since 2019, and their progress has been exceptional," Tapman said, adding that they are "delighted to participate in this round."
Courtesy image
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.