The cannabis compliance technology platform Fyllo said Tuesday it has raised $30 million via an oversubscribed Series B round co-led by JW Asset Management and Sol Global.
Other participants in the funding round include Entourage Effect Capital, Arcadian Capital Management, K2, Salveo Capital, George Steinbrenner IV and 2 NRP Managers, LLC, an investment group led by Ben Lurie.
Fyllo’s $30M Series B: Around 60% of the capital came from outside of the cannabis space, according to Fyllo, revealing the company’s potential to reach other highly regulated industries with its services.
The cannabis tech company plans to use the collected money to double its engineering team, advance activities and sales and speed up the delivery of compliance automation solutions.
Furthermore, the team will work on incorporating the technologies …