Cannabis cultivation software startup Trym closes $3.1m seed round to accelerate growth
Trym, a pioneering cannabis cultivation software company announced the completion of its $3.1 million seed funding round of financing. In addition to an initial friends and family of $1 million, 7thirty Capital and Delta Emerald Ventures co-led the preferred round of $2.1 million. Welcan Capital, Arcview Collective Fund, and others also participated in the oversubscribed round. The funding will enable Trym to make further software advancements and expand its trusted farm management platform into new markets.
Matt Mayberry, CEO and Co-founder, Trym said: "Our investors are a perfect match with Trym's DNA. They understand that connectivity is the future of cannabis agriculture and that to stay in the game, commercial cultivators have to closely track and manage all aspects of their business. A disruption is happening in the market and we're helping to drive it."
Trym currently operates in 14 U.S. states and works with more than 80 of the largest cultivators and multi-state operators in the country.
Intense competition in the cultivation supply chain pushes down on prices and forces operators to improve their production efficiency to stay competitive. Trym addresses the needs of scaling organizations and will use the capital to continue improving its cultivation-focused platform. The funds will also be deployed for strategic software integrations with complimentary supply chain software and hardware systems.
Micah Tapman, Managing Partner at 7thirty Capital said: "The growth opportunity in the cannabis cultivation software market is very exciting for us. Trym is disrupting cannabis cultivation with a comprehensive software platform that streamlines business and connects the whole team for more efficient farm management. We have watched Trym grow since 2019, and their progress has been exceptional. We are delighted to participate in this round."
Trym's powerful operations management, easy-to-use compliance reporting, and comprehensive analytics capabilities offer a differentiated platform for commercial cannabis growers. One recent enhancement to the platform is the Harvest Planner. With the Planner, cultivators can plan multiple harvests in advance, predict production yields and benchmark performance against the forecasts. This new feature addresses a big gap in the market for enterprise scale farms: ability to plot out resources for annual production to meet revenue targets.