Weedar, a software development company based in downtown, raised $1.5 million in a seed round of funding led by an anonymous private investor. This brings the company’s total fundraising to date to $2.3 million.
Founded in 2021, Weedar uses augmented reality-powered distribution and gamified loyalty programs for cannabis brands to boost sаlеs and increase customer retention.
The funds will be used to expand the platform’s technology and scale marketing.
Consumers using Weedar shop from different brands in 3D augmented reality, get access to exclusive product drops and receive NFTs for their purchases, which customers can then trade or resell. Customers can also earn points for using Weedar; the points are stored in a virtual “Stash Box,” and can be exchanged for discounts and merchandise.
Brands market their products through the Weedar platform and create loyalty programs for their consumers. Additionally, brands get access to sаlеs analytics that provide insight into their customers’ behavior. According to the company’s website, the price for brands to use the platform ranges between $300 to $1,000 per month. Weedar takes between $0.10 and $0.40 from each sale transaction.
“Cannabis is the United States’ fastest-growing market. VCs are pouring in cash and consumers are happily hopping on board,” Jonathan Bohun, founder and chief executive of Weedar, said in a statement. “However, the marketing aspect seems to be stuck in the 1990s. Most cannabis brands are clinging on to the old-school points program, which is outdated, boring and ties clients to one point of sаlе. With Weedar they can access limited-edition products with unique packaging online, check out the item and its contents in AR, collect points, and redeem discounts and goodies. Our ultimate goal is to integrate these features with all points of sаlеs — online and offline — to create a unified loyalty platform, enabling consumers to get the most out of shopping with their favorite brands anywhere and anytime.”
Weedar has served more than 2 million consumers and has a catalog of 700 items. The company plans to expand to Washington, New York, Florida and Michigan this year.
