# Canix

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/canix

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.canix.com
- Total disclosed funding: $13M
- Latest round: Series A (Jun 7, 2022)
- Investors on record: 8

## About

Canix is a US-based company specializing in enterprise resource planning (ERP) solutions tailored for the cannabis industry, enhancing operational efficiency for cultivators, manufacturers, and distributors.Canix, Inc. was founded in 2018 in San Francisco, US, focusing on providing comprehensive software solutions for the cannabis sector. The company has successfully raised USD 10.00 mn in Series A funding on June 7, 2022, from investors including Altair Capital, Cathexis Investment Management, Emles Venture Partners, and Gaingels. The firm has completed a total of 3 deals, with a current valuation of USD 54.51 mn. The founder, Artem Pasyechnyk, has a background that reflects his commitment to driving innovation in the cannabis technology space.Canix offers a suite of enterprise resource planning (ERP) solutions specifically for the cannabis industry. Their flagship product is a cloud-based software platform that supports seed-to-sale management for cultivators, manufacturers, and distributors. Key features include real-time data analytics, automated inventory tracking, regulatory compliance, and detailed cost of goods sold (COGS) reporting, catering to clients across the United States, Canada, and other legal cannabis markets.Canix operates a subscription-based revenue model, where clients pay for access to their ERP software services. The pricing structure is determined by the size of the operation and the specific functionalities utilized. This model includes integrations with tools like LeafLink and QuickBooks, ensuring efficient data transfer and financial management. Revenue is generated through service contracts with various stakeholders in the cannabis supply chain, including cultivators and distributors.Following the Series A funding of USD 10.00 mn raised in June 2022, Canix plans to enhance the functionality of its platform and pursue market expansion. The company targets growth in new geographical regions and aims to launch additional products designed to meet the evolving needs of the cannabis industry. This strategic funding will enable Canix to strengthen its software solutions and penetrate new markets effectively.

## Funding rounds

- Series A, Jun 7, 2022, $10M — Altair Capital, Gaingels, Cathexis Investment Management, Emles Venture Partners
- Seed, May 1, 2020, $1.5M — Altair Capital, Floret Ventures, Yleana Venture Partners LP, MAVA Ventures
- Seed, Aug 22, 2019, $1.5M — Y Combinator, Altair Capital, Floret Ventures, Yleana Venture Partners LP

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Altair Capital — Seed, Series A
- Floret Ventures (https://capitalatlas.ai/funds/floret-ventures) — Seed
- Yleana Venture Partners LP — Seed
- MAVA Ventures (https://capitalatlas.ai/funds/mava-ventures) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A
- Cathexis Investment Management (https://capitalatlas.ai/funds/cathexis-investment-management) — Series A
- Emles Venture Partners (https://capitalatlas.ai/funds/emles-venture-partners) — Series A