Augmented reality cannabis shopping platform WEEDAR, has announced on Monday that it has raised $1.5 million in a seed round of funding led by an anonymous private investor.
The raised funds will be used to expand and improve the existing platform and scale marketing to help “fuel sаlеs and strengthen customer retention for cannabis brands,” the company said in a release.
The financing brings its total fundraising figure to $2.3 million.
“Most cannabis brands are clinging on to the old-school points program, which is outdated, boring and ties clients to one point of sаlе,” said CEO Jonathan Bohun.
Bohun said users can access limited edition products “with unique packaging” online, as well as utilize 3D augmented reality to check out the item. A loyalty feature allows app users to collect points and redeem discounts.
“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 any time,” he added.
Brands can market their products through the WEEDAR platform and create customizable loyalty programs to drive customer loyalty and boost retention rates.
“Brands can also opt for a white-label solution, which includes a fully customized app with branded AR-powered experiences and tailor-made loyalty schemes,” the company said. “Additionally, brands get access to advanced sаlеs analytics that provide insight into consumption patterns across regions, which enables improved product distribution, sаlеs and localized offerings.”
Users can also receive NFTs for their purchases, which they can then trade or resell, creating a secondary market and “making WEEDAR the first and only platform where consumers can actually make money buying weed.”
Customers can also engage in gamified in-app experiences and collect points for each win, with points stored in a virtual Stash Box that can be exchanged for discounts and merch, such as exclusive customized bongs or grinders.
WEEDAR only operates in California right now across 12 delivery hubs and “over 700 items, which are visualized in the Californian cannabis market’s biggest library of 3D models.” The company said it plans to expand to Washington, New York, Florida and Michigan this year.
The startup has shown “consistent and sustainable” month-over-month growth of 30%, according to the release.