The user-friendly platform that modernizes consumer interactions through AI has achieved a significant funding milestone
SAN FRANCISCO, May 24, 2023 — Genetica, an AI powered cannabis retail platform, announces the close of its seed round. The round was led by Ensemble, CEO of Talent Resources Ventures and Genetica Adviser Michael Heller, Show Me Organics, Executives from Hara Supply, and Mitchell Harounian. The support from investors allows Genetica to expand into more dispensaries across the country and other retailers outside of the cannabis industry, like grocery stores and pharmacies. The company is on pace to launch its software into more than 350 locations here in the United States and dozens of retail and pharmacy entities internally over the next quarter.
Genetica‘s Flora AI, the underlying technology powering its suite of products, brings a new level of detail to consumer experiences in the cannabis and CBD industries. Its flagship product, Flora Match, leverages Flora AI to deliver personalized product recommendations by analyzing over 650 million data points, including in-store inventory, customers’ dietary habits, activity levels, age, medical conditions, and desired effects. This state-of-the-art AI tool complements the role of store employees, opening up the potential for upselling and add-on sales, thereby driving revenue growth. The Genetica product suite is set to expand later this year with Flora OS, an all-in-one operating system using AI to optimize all retail operations.
Genetica CEO Ben York brings diversified experience to the Genetica team as an operator and investor in the cannabis industry. “We’re so lucky to have this incredible roster of strategic investors on hand to enable our expansion across the US and abroad. Their faith in our mission has empowered us to broaden our scope beyond the cannabis sector. Our ultimate goal is to increase revenues and customer loyalty for a diverse range of retailers through data-driven product recommendations and business insights.”
Reed Woodson, Managing Partner at Ensemble stated, “We’re so excited for the next stage of Genetica‘s development and growth. Their use of AI to personalize the customer experience and unlock new revenue opportunities for retailers is exactly what the cannabis industry needs right now. We’re not just investing in a platform, we’re investing in the future of retail – one that is data-driven, personalized, and highly effective. We’re excited to be part of Genetica’s journey as they modernize the cannabis industry and reshape the broader retail sector.”
About Genetica:
Established in 2020, Genetica is at the forefront of modernizing the cannabis and CBD industries with Flora AI, its pioneering platform. Flora AI analyzes over 650 million data points to provide precise product recommendations, ensuring customers find the perfect product in line with their needs, biochemistry, and current in-store inventory. This state-of-the-art tool not only enriches the customer experience but also empowers store employees, paving the way for effective upselling and increased loyalty. With a profound understanding of the historical and cultural significance of cannabis, Genetica is committed to helping retailers navigate and thrive in this rapidly evolving market. Experience the transformative power of Flora AI and unlock your cannabis and CBD retail business’s full potential. Learn more at getgenetica.com.
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SOURCE Genetica
