Boston Cannabis Delivery Platform Zip Run Raises $2.3M In Round Led By Mollitiam Capital
Cannabis delivery platform Zip Run confirmed Friday it has raised $2.3 million via a seed funding round led by Mollitiam Capital, a private equity fund launched by Ross Bevevino and Tyson Macdonald.
The Boston-based social-equity company said it is working on becoming the first recreational use cannabis delivery in Boston, currently finalizing the authorizations for adult-use delivery in the city limits.
Owning both cannabis courier and cannabis delivery operator licenses in Massachusetts is a privilege reserved for social equity applicants in the state. Once Zip Run obtains both licenses, it will be able to pick up and deliver cannabis products via dispensary affiliates and purchase wholesale products from cultivators for delivery through its Boston warehouse, which is scheduled to open in summer.
"This raise accelerates the product development of our consumer-friendly e-commerce platform and advances our mission of helping social equity companies gain ownership in the cannabis industry," Gabe Vieira, CEO and co-founder of Zip Run, stated.
"Mollitiam Capital has deep experience in cannabis delivery and saw the value in our team, proprietary software, and first to market community leadership. They also share our commitment to supporting communities in Massachusetts and beyond who have been disproportionately affected by marijuana prohibition and enforcement."
In addition, the company announced it is making final preparation for its pickup launch, enabling customers to order through its website and earn credit for future deliveries.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.