I’m thrilled to announce that Brytemap has completed its seed round of $1.5M in funding.
This initial funding will allow us to continue to grow and develop our retail-based software platform for use in medical cannabis dispensaries. By integrating many of the features required to run a successful dispensary operation, such as Point of Sale (POS), patient loyalty, Short Message Service (SMS), and electronic payment; Brytemap has streamlined licensing costs and support for our operators.
Looking ahead, we’re also finalizing development of a new cloud-based platform for cannabis growers to track and manage crops and inventory through Radio Frequency Identification (RFID) technology. Maintaining accurate inventory and compliance in the rapidly expanding cannabis industry is a critical priority for U.S. States, and Brytemap will be at the forefront of that movement.
This initial funding provides us with the capability of developing and supporting two verticals in our industry-cultivation and retail. Over the next year and beyond, Brytemap will be pushing innovation and customer service to new levels for the cannabis industry. Our commitment to these two core values will make us a market leader as we bring real enterprise-level IT to this industry. I’m very grateful to our devoted network of investors who are confident in our ability to build and sell such an advanced offering to our clients.
Look for expanded product offerings over the next year to emerging markets both on a national and international scale, and also for Brytemap to begin supporting the newly legalized hemp industry. Under the 2018 Farm Bill passed in Congress, hemp production was removed from the Controlled Substances Act and reclassified for commercial use, and we intend to be a big part of that expanding market.
We couldn’t be more excited about where Brytemap is today, and where we’re going.