LOS ANGELES – Like a Phoenix rising from the ashes, now-defunct Eaze Technologies Inc. will be reborn as Eaze Inc. following a capital injection of $10 million in Series B funding.
Once known as “the Uber of Weed” and valued at $700 million, delivery-service-cum-multistate-retailer Eaze Technologies was acquired at auction by holding company FoundersJT after the latter’s owner, Netscape co-founder James Henry Clark, foreclosed on a previous loan to the company. According to the new entity, its predecessor completed more than $1 billion in deliveries during the ten years prior to its demise.
The Series B investment will fund reopening seventy Eaze Inc. and Green Dragon locations across California, Colorado, Florida, and Michigan, including fifty-seven retail stores, eleven delivery hubs, and two production facilities.
Cory Azzalino, who served Eaze Technologies as chief executive officer from September 2022 through the acquisition, will lead the new entity. Expansion into new markets will be a focus, he indicated. The company intends to recruit more than 1,000 employees across its current four-state footprint.
Other planned uses for the funds include:
- Doubling Florida production capacity to 64,000 square feet of flowering canopy.
- Opening new dispensaries and expanding delivery capacity across current markets.
- Launching refreshed brand-marketing campaigns highlighting Eaze Inc.’s newly launched scheduled delivery capabilities.
- Building new brand partnerships across all territories and developing new market-specific product offerings.
“We deeply value the contributions of all those who were part of Eaze Technologies Inc.’s journey and remain committed to creating a company that continues to push forward with innovation and care,” Azzalino said. “As we move ahead with this new chapter, Eaze Inc. is focused on sustainable growth and delivering for our customers and communities. The $10-million investment will allow us to strengthen our supply chain, enhance the customer experience, and set the foundation for long-term success.”