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LOS ANGELES: October 30, 2018. WAYV, an automated on-demand supply chain logistics platform servicing California’s growing cannabis industry, has received US$5 million in seed funding led by Craft Ventures, the investment fund created by serial entrepreneur David Sacks.

WAVVWAYV enables licensed cannabis companies to access a network of hundreds of licensed brands and receive next day delivery to anywhere in California. The company says the investment will help it strengthen its supply chain platform and hire critical resources across key functions.

“Navigating the antiquated cannabis supply chain as a retailer, grower, manufacturer or distributor is costly and cumbersome. That’s why we created WAYV. Our platform catapults the cannabis industry forward with modern technology and a compliant marketplace - already in use by hundreds of brands and distributors,” said Keith McCarty, CEO and co-founder. “WAYV’s marketplace streamlines fulfillment, integrates compliance with payment terms, and provides real-time product tracking. Now, retailers can build long term, trusted relationships with brands.”

Launched earlier this year, WAYV technology has reportedly been used to facilitate “thousands of orders and delivery for myriad top brands to the majority of California retailers”, as the newly regulated California cannabis market sees the benefit of an intelligent fulfillment and logistics platform built for the industry.

"As California moves to a regulated and licensed system, there is a long tail of retailers and brands in the industry that need to be connected. The WAYV marketplace provides this critical bridge," said Sacks.

Founded in 2017 by technology executive Keith McCarty and headquartered in Los Angeles, the WAYV platform supports the BtB cannabis business process covering transport, sales, and payment through a one-stop website that integrates regulatory and compliance checks.

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