GrowerIQ raises CAD 3 million in seed funding to revolutionize cannabis management worldwide

The proceeds from the oversubscribed seed funding round will support continued growth and product development

TORONTO–(BUSINESS WIRE)–GrowerIQ, the leading enterprise resource planning (ERP) platform for the cannabis industry, announced today the recent closing of an oversubscribed seed funding round of 3 million CAD (2.3 million USD). The funding round was co-led by Golden Section and MaRS IAF, with participation from LAGO, Delbridge, GTM Fund, and Gaingels.

Non-cannabis ERP systems do not work for cannabis production, so producers are forced to use Excel or outdated software that does not integrate with one another. This makes it difficult to collect data for compliance reports or analyses.

GrowerIQ was founded to help cannabis companies streamline their operations, maintain compliance, and leverage data to improve profitability. The company’s ERP system includes modules for cultivation, manufacturing, warehousing, customer relationship management, order management, and quality management.

Launched in 2020, GrowerIQ has become the solution of choice for cannabis companies of all sizes, with customers in more than a dozen countries. The company is credited with delivering significant improvements in operational efficiency and cost savings for its customers.

«This funding allows us to invest heavily in our technology and continue building the most comprehensive cannabis management platform on the market,» said Andrew Wilson, founder and CEO of GrowerIQ. «We are thrilled to have the support of such experienced investors as we grow our business and help more cannabis companies streamline their operations.»

«We invest in founders who have expertise in this field and a vision,» said Andrew Smith, executive director of Golden Section. «The company’s management clearly meets these criteria, as it is addressing a major challenge in an emerging sector that will help businesses operate more efficiently and comply with regulations on a global scale. The impressive customer base and track record of success, combined with a focus on return on capital and product quality, make this investment a strong fit for our portfolio. We are delighted to partner with GrowerIQ as the company expands its operations and continues to innovate.»

The MaRS IAF team stated: «The GrowerIQ team impressed us with their excellent understanding of customers and the market, and how those insights informed product development. Throughout the process, the team continued to execute its go-to-market strategy and consistently drive strong growth. It was clear that GrowerIQ was solving a very important problem for its customers. It was a pleasure to work with the team, and we look forward to being part of their growth journey.»

About GrowerIQ

GrowerIQ is the core operational ERP system that integrates the fragmented systems required by cannabis production facilities worldwide. The company now serves facilities in more than a dozen countries and in four languages, enabling true traceability from seed to sale. For more information, visit www.groweriq.com.

About Golden Section

Golden Section is a Houston-based venture capital fund founded by experienced enterprise software builders that invests in early-stage B2B SaaS companies. The fund aims to partner with founders—from pre-seed through post-exit—through a differentiated approach designed to minimize confusion and chaos, enhance the team’s expertise, and focus on return on capital, balance, and revenue growth. Our goal is to support founders in achieving a successful exit under favorable conditions. www.goldensection.com

About the MaRS Investment Accelerator Fund

The MaRS Investment Accelerator Fund (IAF) is a leading startup fund that invests in high-potential companies in the IT, healthcare, and clean technology sectors. Over the course of its 10-year history, IAF has partnered with more than 150 founders to build companies with global reach. www.marsiaf.com

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Contact

Andrew Wilson, CEO of GrowerIQ, [email protected], +1 (855) 892-7500

Laurenn Wolpoff, Public Relations, Bospar, [email protected], +1 (917) 518-9011