Leaf Trade, a technology company whose wholesale ordering platform connects licensed cannabis vendors and dispensaries, announced that it raised $4.5 million in a funding round led by HPA and Duke Software Investments. HMB represented Hyde Park Angels (HPA) in their investment.
HPA's people-first approach provides unique value to entrepreneurs and investors. HPA will be actively involved in Leaf Trade at a board level.
This funding adds momentum to Leaf Trade’s progress. To date, the company has signed five of the largest cannabis companies as clients. In October 2019, Leaf Trade expanded from four states to 12 to meet demand from these and other customers. By the end of 2019, the company plans to grow to 20 states.
HMB's team was led by Corporate Partners James L. Jerue and Renee A. Rossi. Learn more about HMB's Venture Capital and Emerging Companies practice here.