Fyllo Lands Another $10 Million In Funding

Cannabis-data startup Fyllo secured another $10 million through a series A2 financing round.

Total funding to date stands at $26 million, the company confirmed Wednesday.

The latest investment round was led by JW Asset Management and K2 & Associates along with current investors Arcadian, Salveo Capital, and Phyto Partners.

"We were excited to lead this funding round, and continue supporting the innovative technology platform being built at Fyllo," JW Asset Management Managing Director Jason Klarreich noted.

Fyllo was launched in 2019, and since then provides data, media, and compliance solutions.

Meantime, one of its latest innovations is a software tool — dubbed Compass — centered around helping cannabis companies that its advertising and other creative content stay compliant with state and local regulations.

The Chicago-based company opted for a leadership change in mid-July when it appointed board member Mitchell Kahn chairman.

Fyllo CEO Chad Bronstein is "grateful" investors continue to support their vision.

"This financing is a testament to the incredible work by the Fyllo team and reflects the company's strong progress to date," Bronstein told Benzinga. "The proceeds will position us to rapidly advance our technology platform and expand our data and compliance solutions for both cannabis and mainstream brands."

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