California Cannabis Distributor Nabis Raises Over $5.25 Million
April 19th, 2019
OAKLAND, Calif., April 19, 2019 /PRNewswire/ — Nabis, one of California’s largest Type 11 Cannabis Distributors, announced they’ve raised $4 million during their second round of financing which officially closed in March 2019. This follows their seed round last summer when they raised $1.25 million from Silicon Valley’s elite investors, bringing the total amount raised to $5.25 million since its inception in 2017.
Key investors include Y Combinator, Liquid 2 Ventures, Soma Capital, Babel Ventures, Paul Buchheit (creator of Gmail), Stanley Tang (co-founder of DoorDash), Clark Valberg (CEO of InVision) and Keisuke Honda (professional soccer player and coach).
This capital will go towards expansion in both California and out-of-state as Nabis focuses on business growth to scale up their cannabis supply chain. Nabis will also be building a fully-renovated 10,000 sq. ft. distribution hub in Los Angeles to streamline operations and support growing demand in Southern California. As a tech-driven company, Nabis manages its distribution logistics using its proprietary cannabis-compliant software system. They plan to invest heavily in their software capabilities to deliver the best experience for brand and retail partners, further solidifying their positioning as the most reliable logistics service in the industry.
“Nabis’ latest round of funding will allow us to significantly scale up our infrastructure and software product to continue dominating the industry in California,” said Vince Ning, CEO of Nabis. “We’ve become a top-tier distributor with a statewide network in just over one year of operations and we want to continue bolstering our service level by making it even easier for brands to enter the retail market.”
Since the legalization of cannabis in California in January 2018, Nabis has shipped tens of millions of dollars worth of product. They currently distribute to over 90% of retailers in California and have over 40 brand partners on their roster.
“Our new distribution facility will dramatically increase our throughput and reduce turnaround time for each shipment,” said Jun S. Lee, President of Nabis. “We currently provide 36-hour shipping in all metropolitan and major secondary markets at a 98% on-time delivery success rate, a service level we want to uphold and extend state-wide by the end of the year.”
Nabis is a leading, independent cannabis distributor based in California with a software front-end and infrastructural backend. The tech-driven company provides a lightning-fast distribution network for the fulfillment, storage, and sales of wholesale cannabis products for over 40 major brands including Canndescent, THC Design, Cresco, Beezle, Nasha, and Honey Vape to retailers across the state from small delivery businesses to major dispensary chains. Founded on a simple mission to modernize the cannabis supply chain in 2017, Nabis offers transparency and efficiency for partners through their unique software portal that seamlessly automates every aspect of cannabis distribution.
For more information, visit their website at www.getnabis.com.
Nabis – Director of Strategy & Information
Follow Us on Social Media
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.