We Invested in an ERP for Growers, Here is Why

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Leveraging the team's experience, this unique ERP is well positioned to take advantage of the expanding global cannabis industry.

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Tuesday, January 10, 2023
Information
Tags: 
Golden, Growth, ERP, Golden ratio, Software as a service, Architecture, Drug
Organisation: 
GOLDEN SECTION
Summary
Key Points: 
  • Leveraging the team's experience, this unique ERP is well positioned to take advantage of the expanding global cannabis industry.
  • There are competitors in the space, but GrowerIQ is the most sophisticated end-to-end cannabis ERP platform and is in a category of its own.
  • The platform has "smart," closed-loop capabilities that not only gather data but leverage it to help companies increase their bottom line.
  • Additionally, non-cannabis ERP systems do not integrate with cannabis production, making the platform a sticky and essential product.


We Invested in an ERP for Growers, Here is Why

HOUSTON, Jan. 10, 2023 /PRNewswire/ -- GrowerIQ, a pioneer in the cannabis management platform space, recently received a $3,000,000 CAD investment led by Golden Section and MaRS IAF to drive expansion and growth. GrowerIQ is a seed-to-sale ERP for cannabis growers. It is the most sophisticated end-to-end platform to-date. 

"What Golden Section has put together is such a unique portfolio of services and expertise that work together as a cohesive whole," - Andrew Wilson, CEO of GrowerIQ.

 GrowerIQ is a comprehensive cannabis management platform that facilitates more efficient regulatory reports while providing insights to encourage optimal operational practices.

Andrew Wilson created this product to solve specific problems in the growing cannabis space. His exposure to the legal cannabis industry in Canada gave him a competitive edge in what he had to offer cannabis producers worldwide. He recognized the many struggles that producers face, particularly fragmented operations, regulatory compliance, and managing the often-complex legalities associated with the cannabis industry.

GrowerIQ's Cannabis enterprise resource planning (ERP) purpose is to manage these complexities for producers, so they can focus on the bigger picture.

The company recognized the difficulties caused by fragmented reporting systems, making it hard to gather data or perform analyses. It centralizes and makes widely dispersed data easily accessible.

It combines the different modules that growers need:

  • Cultivation,
  • Manufacturing
  • Warehouse
  • CRM
  • Order Management
  • Quality Management

GrowerIQ is a true seed-to-sale traceability platform. 

Leveraging the team's experience, this unique ERP is well positioned to take advantage of the expanding global cannabis industry. It currently has customers in 14 countries, as a part of its focus on the global cannabis market, which is projected to grow rapidly at a double-digit growth rate reaching $82 billion by 2027.

There are competitors in the space, but GrowerIQ is the most sophisticated end-to-end cannabis ERP platform and is in a category of its own. The platform has "smart," closed-loop capabilities that not only gather data but leverage it to help companies increase their bottom line. Additionally, non-cannabis ERP systems do not integrate with cannabis production, making the platform a sticky and essential product. These are some of the reasons why we decided to invest in an ERP for growers.

Our mission at Golden Section is to partner with and invest in early-stage B2B software companies at the inflection point of expansion, and in founders who have subject matter expertise with vision. Andrew embodies these principles and aligns with our strategy of capital efficiency and growing scalable SaaS products.

GrowerIQ will also be leveraging our product development expertise to bolster an already strong architecture, ensuring a strong base for continued growth. While the company has many revenue streams, it has progressively focused efforts on driving revenue through the SaaS component, which we believe has the greatest growth potential. 

We are excited to be working with Andrew and look forward to helping his team continue to drive efficiencies and compliance for cannabis producers worldwide.

You can learn more about GrowerIQ here.

GrowerIQ
Toronto, Ontario
www.groweriq.ca

Golden Section
Houston, Texas
www.goldensection.com

Media Contact:
Yosef Levenstein, CMO at Golden Section
[email protected]

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SOURCE Golden Section

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